- Wayfair confirmed to Business Insider on Thursday that it is laying off 3% of its global workforce, which works out to be more than 500 employees.
- In a statement emailed to Business Insider, a company spokesperson said that 350 jobs would be impacted in its Boston headquarters.
- Employees were informed of layoffs in a company-wide email sent by its CEO on Thursday morning ET.
- Visit Business Insider’s homepage for more stories.
Wayfair confirmed Thursday that it is laying off 3% of its global workforce, which works out to be more than 500 employees.
In a statement emailed to Business Insider, a company spokesperson said that 350 jobs will be impacted in its Boston headquarters.
A group of employees in its Berlin office was also laid off on Tuesday, according to a report from The Boston Globe. The company has more than 17,000 workers worldwide.
In a statement shared with Business Insider, a spokesperson commented on the restructuring, saying:
To position the organization to take advantage of the opportunity ahead, we continually evaluate the needs of the business and work to increase efficiencies while aligning our teams with the initiatives that drive the greatest impact for our customers.
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 remain as confident as ever in Wayfair’s future and our steadfast focus on delighting our customers with the best experience for home.
In an email to Business Insider, a Wayfair engineer who wished to remain anonymous in order to speak frankly but whose identity was verified by Business Insider, said that the layoffs are being described by workers as the “Valentine’s Day massacre.”
Wayfair CEO Niraj Shah informed employees about the restructuring in a company-wide email sent out on Thursday morning ET.
“Since we founded the company in 2002 we have always had periods where we invested very heavily in the business and periods where we have worked to drive greater efficiency of all our resources. On reflection this last period of investment went on too long (as an example, doubling our OpEx team from 4,000 to 8,000 in just two years) and we find ourselves at a place where we are, from an execution standpoint, investing in too many disparate areas, with an uneven quality and speed of execution,” he wrote.
He continued: “The difficult human impact of this is that today we are telling approximately 550 people that their roles no longer exist and they will depart Wayfair.”
Got a tip? Contact this reporter via encrypted messaging app Signal at +1 (646) 768-4716 using a non-work phone, by email to email@example.com, or Twitter DM at @MarySHanbury.
SEE ALSO: Rihanna’s inclusive underwear brand is being accused of ‘deceptive marketing’ and luring shoppers into paying hefty monthly fees
Join the conversation about this story »
NOW WATCH: Camel milk can cost $30 a litre. Why is it so expensive?