JANUARY 20, 2024 — 1,650 EMPLOYEES TARGETED
In another restructuring, the company will lay off 13% of its global workforce, including 19% of its corporate team.
The reduction in force will impact 1,650 employees.
According to Wayfair’s co-founder and CEO, Niraj Shah, “The changes announced today reflect a return to our core principles on resource allocation. Although persistent category weakness makes revenue growth challenging, we remain encouraged by the share gains we continue to see.”
Wayfair Announces Workforce Realignment Plan
Proactive organizational redesign accelerates profitability goals
Wayfair, one of the world’s largest destinations for the home, today announced details related to rightsizing its cost structure, following the series of actions originally initiated in August 2022. After a comprehensive, organization-wide analysis of the appropriate team size and structure, the company announced a workforce reduction involving approximately 1,650 employees, representing approximately 13% of its global workforce and approximately 19% of its corporate team, in each case as of December 31, 2023. The changes announced today reflect a return to our core principles on resource allocation, such as getting fit on spans and layers as well as focusing on our highest priorities. As a result, we're reducing team sizes across the organization, as well as reducing seniority in certain roles that we plan to rebuild with modified leveling over the course of this year.
To our colleagues departing Wayfair, I want to thank you for your incredible contributions to Wayfair and to our customers. You have so much to be proud of. I truly regret the impact this will have on you. Although persistent category weakness makes revenue growth challenging, we remain encouraged by the share gains we continue to see.”
JANUARY 20, 2023 — 1,750 LAYOFFS
Wayfair announced on Friday its second round of layoffs in less than six months, with a plan to cut 1,750 jobs, or 10 percent of the company’s workforce.
According to CEO and cofounder Niraj Shah, “We thrive when we are scrappy and dedicated to customer outcomes. Unfortunately, along the way, we over complicated things, lost sight of some of our fundamentals and simply grew too big.”
AUGUST 19, 2022 — 870 LAYOFFS
From the company’s 8-K Securities and Exchange Commission filing…
On August 19, 2022, Wayfair announced a workforce reduction involving approximately 870 employees in connection with its previously announced plans to manage operating expenses and realign investment priorities. This reduction represents approximately 5% of our global workforce and approximately 10% of our corporate team. Concurrently, the Company is in the process of making substantial reductions in its third-party labor costs.
A Message from CEO and Co-Founder Niraj Shah…
“Over the past few years, we’ve grown Wayfair significantly to keep pace with the ecommerce growth in the home category. We were seeing the tailwinds of the pandemic accelerate the adoption of ecommerce shopping, and I personally pushed hard to hire a strong team to support that growth. This year, that growth has not materialized as we had anticipated. Our team is too large for the environment we are now in, and unfortunately we need to adjust.
I take responsibility for the impact this decision will have on the nearly 900 Wayfairians who will be told today they are no longer a part of building our company’s future. The individuals being impacted have not only made tremendous contributions to the company as colleagues but have enriched us all as our partners and friends. We’re grateful to have worked alongside them, and we will strongly support our colleagues in their next endeavors.
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.”
FEBRUARY 15, 2020 — Original post…
Boston, Massachusetts-based Wayfair, an e-commerce platform offering furniture and home goods. has announced it is reducing its headcount in an organizational restructuring that will impact 550 employees, with 350 located at the company’s headquarters.
A company spokesperson announced that the decision for the reduction in force was made for business reasons, primarily to “increase efficiencies while aligning our teams with the initiatives that drive the greatest impact for our customers.” Further noting that “As part of that process, we have made some organizational changes that affect approximately three percent of our global workforce. We are continuing to hire for the many roles needed to drive our long-term success and the continued growth of the business. We no doubt built some excess, inefficiency, and even waste at times, in almost every area.”
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?
