Wayfair is laying off 1,650 employees as part of its efforts around “right-sizing its cost structure.”The cuts amount to about 13% of its global workforce and 19% of its corporate team, the furniture and home goods eCommerce company said in a Friday (Jan. 19) press release.“I think the reality is that we went overboard in hiring during a strong economic period and veered away from our core principles, and while we have come quite far back to them, we are not quite there,” Niraj Shah, CEO and co-founder of W ...

About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...

Wayfair (NYSE:W) layoffs are a hot topic on Friday as the e-commerce company announces major cuts to its workforce to streamline operations.That has the company cutting 1,650 employees or 13% of its total global workforce. These Wayfair layoffs will also result in 13% of its corporate workers no longer having jobs with the furniture e-commerce business.Wayfair is expecting the layoffs to result in $70 million to $80 million in costs connected to severance a benefits. These charges will mostly be contained t ...

Wayfair is cutting about 13% of its global workforce, affecting approximately 1,650 employees, the company announced on Friday. The e-commerce home goods retailer said it expects the restructuring plan, which started in August 2022, to save more than $280 million. At the end of 2022, the company employed 17,505 workers, according to a March 2023 proxy statement."The changes announced today reflect a return to our core principles on resource allocation, such as getting fit on spans and layers as well as focu ...

Wayfair, the online home furnishings retailer, said it would be cutting 1,650 jobs, acknowledging that it “went overboard in hiring during a strong economic period.” ...

Wayfair is laying off 13% of its global workforce, or around 1,650 staff."I truly regret the impact this will have on you," CEO Niraj Shah told staff.Read the full email Shah sent to Wayfair employees. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. Email address By clicking “Sign Up”, you accept our Terms of S ...

Wayfair Inc. shares rose 15.9% in premarket trades Friday after the home goods retailer announced a workforce reduction involving approximately 1,650 employees. The cuts represent approximately 13% of the company’s global workforce and approximately 19% of its corporate team as of Dec. 31, 2023. In a statement released early Friday, Wayfair W, -0.91% said that its workforce-realignment plan is expected to deliver annualized cost savings of more than $280 million.Related: Macy’s to lay off 13% of corporate s ...

By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time.Access your favorite topics in a personalized feed while you're on the go. download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewWayfair said Friday it's cutting 1,650 jobs, with many corporate staff in the firing line.The online furniture and homeware retailer is laying off about 13% of its workforce, including almost a fi ...

Wayfair IPO on the floor of the New York Stock Exchange.Wayfair is cutting 13% of its global workforce as the digital home goods retailer looks to trim down its structure, cut out layers of management and reduce costs, it announced Friday. The company plans to lay off around 1,650 employees, including 19% of its corporate team, with a focus on people in management and leadership positions, the company said. The restructuring – the third Wayfair has implemented since summer 2022 – is expected to save the com ...

Proactive organizational redesign accelerates profitability goals BOSTON, Jan. 19, 2024 /PRNewswire/ -- Wayfair Inc. (NYSE: W), one of the world's largest destinations for the home, today announced details related to right-sizing its cost structure, following the series of actions originally initiated in August 2022. After a comprehensive, organization-wide analysis of the appropriate team size and structure, the company announced a workforce reduction involving approximately 1,650 employees, representing a ...