Wayfair to cut 1,750 workers

Wayfair has commenced its second round of #layoffs in less than six months as it looks to cut costs. The company — like other #retailers selling home goods — benefited at the onset of the pandemic as more consumers stayed home. But as restrictions eased, consumers shifted spending, negatively impacting retailers like Wayfair. “In hindsight, similar to our technology peers, we scaled our spend too quickly over the last few years,” CEO and co-founder Niraj Shah said in a memo to employees Friday. The company in its most recent quarter reported net revenue fell 9%, while U.S. revenue fell 6%. #dtc #retail

Wayfair continues to pull back its business after misreading what the pandemic meant for sales. Wayfair said the reductions would include about 18% of corporate employees, reflecting efforts to eliminate management layers and become more agile. The moves are part of a cost-reduction plan initiated in August, when the company announced cuts of about 870 positions. The initiative will amount to more than $1.4 billion in annualized cost actions.

Hi everyone! Today I received a notice that I'm among the 1,750 people at Wayfair receiving layoff notices. Wayfair has been a great team to work with, and I am eager to see where life will take me! I welcome any connections, advice, or opportunities you can offer.?#OpenToWork

Unfortunately I was impacted by the Wayfair layoffs today. I am grateful to have worked with such a great company.? I am open for new opportunities, please let me know if you know anyone hiring!? #recruiting #humanresources #openfornewopportunities #wayfairlayoffs

Today I was impacted by the Wayfair layoff. looking for my next opportunity. I am an experienced Project and Software Product Manager; specializing in Cloud migrations and Integration testing.

I was unfortunately one of the many affected by the Wayfair layoffs today. I am looking for a new role and would appreciate your support. Thank you in advance for any connections, advice, or opportunities you can offer. To everyone else affected, please don't hesitate to reach out and utilize my connections. I'm here for whatever you need! #OpenToWork

I was impacted by the Wayfair layoffs today. It was a brief 18 month journey but genuinely one of the best professional experiences of my life. Talented people and empathetic leadership. I am looking for new opportunities, preferably in the Dallas-Fort Worth area or remote positions. 25 years experience. Best of luck to all of us in the tech sector. It's a rough period.

Unfortunately, my role was impacted by the layoffs at Wayfair this morning. While I am sad to be leaving the organization, I am eager to see what the future holds. If you know of anyone hiring, I am seeking my next opportunity! #opentowork #layoffs #wayfairlayoffs #talentacquisition