Wayfair Cuts 870 Jobs
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400 of them are in Boston, as it responds to a sales decline.
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Recently, the company reported a quarterly loss and blamed changes in customer spending.
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The job cuts were disclosed in a memo sent on Friday morning to all 18,000 workers by CEO Niraj Shah.
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While those conversations had already started with staff in Europe and Asia, all North American workers were expected to be informed on Friday if their employment are endangered.
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The layoffs affect 5% of the company's global workforce.
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The corporation expects spending $30 million to $40 million on the workforce reduction; the majority of this sum will go toward severance fees.
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A similar-sized layoff occurred at Wayfair in February 2020, when 550 employees were let go globally, including 350 in Boston.
image source: google
image source: google