Wayfair has reportedly laid off more than 800 employees this week. Impacting 5% of Wayfair’s overall workforce, the company’s “workforce reduction” is the result of a decrease in order deliveries, active customers and orders per customer.
“Our team is too large for the environment we are now in, and unfortunately we need to adjust,” Wayfair CEO and Co-Founder Niraj Shah stated.
“Broadly, the changes we’re making fall into three categories: 1) thinning out management layers to enable team members to focus on execution, 2) aligning our work better with our strategic priorities, and 3) adjusting areas that have simply grown faster than our current revenue trajectory can support. We looked carefully at each decision.”
Wayfair is not the only company to lay off a large number of employees during recent economic strife. This year, Snap Inc., Netflix and Soundcloud have all laid off employees. More recently, Shopify and Peloton announced that they would lay off 800 or more employees. As the country continues to endure a stiff economic downturn, it is likely that other large companies will have to lay off employees as well.
Just in: Wayfair doing layoffs today I confirmed with people at the company. Employees received an email from the CEO and straight after another one on whether or not they are impacted.
~900 people impacted overall. Those let go are getting at least 10 weeks severance.
— Gergely Orosz (@GergelyOrosz) August 19, 2022
