Wayfair to Cut More Than 1,000 Jobs After Sales Decline

Wayfair Inc. is set to announce another round of job cuts, according to a person familiar with the situation.

(Bloomberg) — Wayfair Inc. is set to announce another round of job cuts, according to a person familiar with the situation.

More than 1,000 employees will lose their jobs, said the person, who asked not to be identified because the information is private. In August, the company announced cuts of about 870 positions, which represented roughly 5% of its global workforce.

The online home-goods retailer has struggled with sales declining for more than a year after revenue boomed during the early stages of the pandemic when US shoppers spent on fixing up their houses. Wayfair’s shares have fallen about 75% in the past 12 months.

A representative for Wayfair declined to comment.

These cuts add to the pain for workers in the tech and e-commerce sectors. This week, Amazon.com Inc. and Microsoft Corp. began eliminating 28,000 jobs.

The Wall Street Journal reported on the job cuts earlier.

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