Wayfair Layoffs

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Wayfair, the online home goods retailer, announced on Friday that it is laying off approximately 1,650 employees, representing 13% of its global workforce. This includes a 19% reduction in its corporate team, with a focus on management and leadership positions. The company, which has implemented its third major restructuring since summer 2022, stated the move aims to streamline operations, cut management layers, and reduce costs after over-hiring during the pandemic-driven sales boom. The layoffs are expected to save Wayfair about $280 million. CEO Niraj Shah attributed the cuts to a need to align staffing with current business levels amid persistent weakness in the home goods category, following a period where annual sales doubled to $18 billion. The announcement comes amid a wave of layoffs in the retail sector, including recent cuts by Hasbro, Etsy, and Macy's.

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