American e-commerce firm Wayfair announced it is laying off 13% of its workforce — around 1,650 employees.
The job cuts include approximately 19% of the firm’s corporate team, and it is expected to deliver annualized cost savings of more than $280 million for the company, it said in a statement.
“The changes announced today reflect a return to our core principles on resource allocation, such as getting fit on spans and layers as well as focusing on our highest priorities,” said CEO, co-founder and co-chairman Niraj Shah.
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