The company announced a restructuring plan to cut approximately 800 jobs, or 6% of its global workforce, to better align staffing with strategic priorities. This follows its $1.2 billion acquisition of the fashion resale platform Depop, targeting Gen Z. The firm is reshaping operations around re-commerce and artificial intelligence. Despite the layoffs, it reported strong fourth-quarter revenue of nearly $3 billion and continues to hire in priority areas. A recent bullish analysis highlighted its positioning for a stronger quarter.