EBay is closing an office on Mission Street in San Francisco, according to a WARN notice filed with the California Employment Development Department. The closure will entail laying off 28 employees.
Locally based employees will continue to work from the marketplace giant's headquarters in nearby San Jose, a spokesperson said by email. Earlier this year the company said it would cut 6% of its staff, eliminating about 800 roles globally. Around that time the company also said it would acquire U.K. resale site Depop from Etsy for $1.2 billion.
Indeed, while eBay is cutting costs, it will also hire in needed areas, the company said in February. EBay beat expectations in its most recent quarter, and most analysts hailed the Depop acquisition.
The marketplace is focusing on peer-to-peer sales – about a quarter of its total gross merchandise volume – and sales of used and refurbished items, CEO Jamie Iannone said during an earnings call earlier this year. The apparel resale market in the U.S. grew nearly four times faster than the overall apparel market and is expected to top $78 billion in four years, according to research from GlobalData and ThredUp. Fashion drove over $10 billion in eBay’s GMV globally last year, Iannone told analysts.
Editor's note: This story has been updated to reflect more detail from the company.
