E-Commerce Giant cuts 900 Employees!!! Staffs will Obtain an E-mail Shortly.Wayfair, a US-based online retailer, is eliminating over 900 employees, or around 5% of its global staff. The online furniture retailer stated in a regulatory filing with the US Securities and Trade Commission (SEC) that on August 19, 2022, “Wayfair announced a workforce discount involving approximately 870 staff in reference to its previously announced plans to handle working costs and realign funding priorities.” Concerning the layoffs, CEO Niraj Shah sent an open letter to the staff.
Shah stated in the letter that the layoffs were a “difficult decision” brought on by Covid-19. Because it was posted on the company website, we know that this is the letter.
The Boston company claimed a 55% increase in sales as families spent substantially to furnish living rooms and other areas of the house in 2020 with millions of people seeking shelter at home. Sales at Wayfair fell 3.1% last year as more people went outside, according to the research.
In an open letter, Wayfair CEO Niraj Shah stated, “I personally pushed hard to hire a solid staff to support that development. However, this year, the growth hasn’t come about as expected. Unfortunately, we must make adjustments because our team is too big for the situation we are in right now.
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