Wayfair is slashing 1,650 jobs just weeks after the CEO said it was profitable again

Niraj Shah, co-founder of Wayfair
Wayfair CEO Niraj Shah. Scott Olson / Getty Images
  • Wayfair is cutting 1,650 jobs, or 13% of its workforce, it said Friday.

  • Almost 1 in 5 corporate staff are being laid off and the company is reviewing levels of management.

  • Last month CEO Niraj Shah said Wayfair was profitable again but said staff should consider working long hours.

Wayfair said Friday it's cutting 1,650 jobs, with many corporate staff in the firing line.

The online furniture and homeware retailer is laying off about 13% of its workforce, including almost a fifth of its corporate team.

CEO Niraj Shah said in a statement that Wayfair was cutting the size of teams across the company, "as well as reducing seniority in certain roles that we plan to rebuild with modified leveling over the course of this year."

In an email to staff in mid-December, Shah said the company was "back to winning" and had more repeat customers, but warned employees to spend company money carefully and be open to long days at work.

"Working long hours, being responsive, blending work and life, is not anything to shy away from," he said in the email. "There is not a lot of history of laziness being rewarded with success."

Just weeks later, some workers are finding they've lost their jobs.

"I truly regret the impact this will have on you," Shah told staff in an email on Friday announcing the layoffs.

Wayfair said it expected the cuts to save more than $280 million a year.

However, the layoffs will incur costs of up to $80 million.

Wayfair said in August 2022 that it would lay off about 870 employees. It announced a further 1,750 job cuts in January last year.

Wayfair appears to have had about 12,700 staff before the most recent round of layoffs.

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