Wayfair Cuts 13% of Workforce While ‘Right-Sizing Its Cost Structure'

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 ...