One of the first e-commerce company this world had was eBay. It was doing remarkably well with business to business, business to consumer and consumer to consumer services. These three services are still not offered by many companies. The uniqueness of eBay lies within the way it operates. It was one of the most used e-commerce sites because of this. The company changed a lot of things recently and has lost its credibility ever since. It was just trying to cope up with the likes of Amazon and many other e-commerce platforms which are doing extremely great.
The American giant was also one of the leading e-commerce sites in India. It was looking to explore when Flipkart came and took over the reign. The Indian market was very novice when eBay was looking to explore and then it decided to sell its business to Flipkart after the latter came in with aggressive plans. However, ever since Flipkart has been acquired by Walmart, eBay has been rewriting its plans in India and plans to enter the subcontinent with its own version of e-commerce.
That said, the company is going through a transition period. It is trying to win back its trust from the users which it has lost because of certain decisions. The company is now taking harsh steps and trying to restructure the entire organization and the way it works. There is also news that it is going to fire some of its servants as the employee count is going to drop to a number less than 14,100.
The number of people to be fired is not yet officially out but the company is looking at around 400 people to lay off. That is a huge number. The other significant change in the company is that eBay will look to centralize all its region. The company’s new head Jay Lee is going to look after all the geographical regions of eBay. He will look after all the regions across the world. He is now the SVP and the GM for markets.
The current American head of the company Scott Cutler is going to leave the company. For the time being the SVP of America will be reported to Lee. That said, Lee will be handling APAC, Americas, UK, Central, and Southern Europe and also a bit of Asia. He is also going to look after cross-border trade as well.
This is coming after a lot of investors called for freshness amongst the company runners. There was a lot of heat generated by some of the investors. There were open letters written and eBay was asked to shake up its management and rethink its strategies so that it could return the growth of the company. That said, the company is looking to bring in new faces and a fresh approach.
It is also giving a lot of responsibility to Jay Lee who is at eBay from 2002. He has been trusted with the work and will take care of the company from here on. It will be interesting to see how the company takes shape after so much criticism and a few years of slack business.