Online retailer eBay Inc. will cut about 1,000 roles, or an estimated 9% of its current workforce, according to multiple reports. The tech giant said its number of employees and costs have exceeded how much the business is growing in a slowing economy.

eBay CEO Jamie Iannone said in a message to employees that the company also will reduce how many “contracts we have within our alternate workforce over the coming months,” reports ABC News.

In the message, which was also posted online, Iannone told employees “We need to better organize our teams for speed — allowing us to be more nimble, bring like-work together, and help us make decisions more quickly.”

Last February, eBay announced plans to lay off 500 employees globally, representing 4% of its total workforce, reports Reuters.