wayfair layoffs – check the details
After many layoffs now a new e-commerce company named Wayfair has announced that they are all set for layoff. They are going to shed 5% of its workforce which will impact on nearly 1000 employees of the company.
This is the second round of layoffs by Wayfair in the past six months, according to confirmed media reports. In August last year 0f 2022, CEO Niraj Shah of Wayfair shed around 870 employees of the company which was the 5% of the global workforce of the e-com company. This was done after the company saw no growth in the market, and the prediction was the same for the upcoming years due to signs of inflation.
It is US-based company Wayfair that they look forward to hiring a strong team to capture growth as e-com shopping growth picks up after signs of inflation hitting, CEO Niraj Shah said on a memo. They were looking forward to maintain it , and hire more people in the team .
But at the time of announcement of cut-off they said that the growth in the market is just our estimate which we had done earlier. Now there is no development in the market, and our team is too big, so they need to adjust and cut down the company’s workforce to reduce the expense.
So, this e-com company is also on the list of global profit which is affected by inflation and slow market rate, and announced layoffs. Mainly this time cut off will affect more than 1000 employees.
There is no news of compensation and benefits announced by the company so far. But they are also in a wait and watch position. We will update with the latest updates if the company announces any major support for the employees who are going to face the heat of firing!