Wayfair Announces 870 Job Cuts

Wayfair Inc. (W) Friday announced a job cut of approximately 870 employees as part of realignments. The company said the reduction represents approximately 5 percent of the global workforce and approximately 10 percent of its corporate team.

As part of substantial reductions in its third-party labor costs, the company expects to incur between approximately $30 million and $40 million of costs, consisting primarily of employee severance and benefit costs. These costs will be reflected in the third quarter of 2022.

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