New York (AFP) – American online furniture store Wayfair, one of the world's leading retailers in the sector, will lay off 1,650 employees, or 13% of its workforce, it announced in a statement on Friday.
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With these layoffs, the Boston-based company wants to save $280 million, he said.
“The reality is that we have gone too far on hiring during a strong economic period and strayed from our founding principles,” Neeraj Shah, founder and CEO of Wayfair, explained in a memo to employees.
Wayfair generated $12 billion in revenue in 2023 and has 22 million customers.
The company employs 14,000 employees in North America and Europe, according to its website.
Layoffs have doubled in recent months in the United States, amid a slowdown in the economy.
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