Wayfair Announces Layoffs: 1,650 Employees Impacted in Restructuring Effort

Wayfair announced it will lay off approximately 1,650 employees, representing 13% of its global workforce. The cuts include 19% of Wayfair's corporate team and focus on management and leadership roles. The company aims to streamline operations and cut costs by approximately $280 million through this restructuring. It is Wayfair's third round of layoffs since the summer of 2022, as demand for home goods has slowed from pandemic peaks. CEO Niraj Shah said the moves will return Wayfair to focusing resources more efficiently amid category weakness.