Wayfair Layoffs
August 2022
Wayfair announced a layoff affecting 870 employees (5% of its workforce) in August 2022. The company operates in the Retail sector.
870
5%
Aug 19, 2022
About
Wayfair, the online home furnishings retailer, announced layoffs of 870 employees, representing about 5% of its global workforce of 18,000. The cuts, which include 400 positions in its Boston headquarters, were communicated by CEO Niraj Shah on Friday, January 20, 2023, as the company responded to a quarterly loss and declining sales attributed to shifting consumer spending and high inflation. This move, impacting 10% of its corporate team, triggered a significant 20% drop in Wayfair's stock. The layoffs reflect broader economic challenges and a post-pandemic slowdown in e-commerce demand that surged during the early COVID-19 years.
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