The online furniture retailer Wayfair, which has struggled to maintain momentum after experiencing a surge in sales in the early months of the pandemic, said on Friday that it was laying off about 870 employees, about 5 percent of its global work force and 10 percent of its corporate team.
The job cuts are part of the company’s “plans to manage operating expenses and realign investment priorities,” Wayfair said in a regulatory filing.
A spokeswoman for Wayfair said the layoffs primarily affected corporate roles in North America and Europe.
“We were seeing the tailwinds of the pandemic accelerate the adoption of e-commerce shopping, and I personally pushed hard to hire a strong team to support that growth,” Niraj Shah, a co-founder and the chief executive of Wayfair, wrote in a letter to employees. “This year, that growth has not materialized as we had anticipated.”
Wayfair’s sales boomed in the early months of the pandemic. In the second quarter of 2020, sales were up more than 80 percent as cooped-up workers shopped for furniture online, helping Wayfair, which went public in 2014, post its first profit as a public company.
On Aug. 4, Wayfair announced its second-quarter earnings, reporting that net revenue was down 14.9 percent from the same period last year and that its number of active customers had fallen 24.1 percent.
“During a difficult macroeconomic environment, we remain squarely focused on our customers and our suppliers, and on making sure Wayfair is their preferred platform for the home,” Mr. Shah said in the earnings statement. “We are tightly controlling our many levers and steering Wayfair in a financially responsible manner through this period.”
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