"Wayfair CEO Niraj Shah's Email Announcing 13% Job Cuts"
Wayfair is laying off 13% of its global workforce, or about 1,650 staff, as part of a restructuring effort to create a "clean organizational model" for long-term growth. CEO Niraj Shah expressed regret over the impact on affected employees and outlined the company's history of rapid growth, subsequent lack of focus, and recent efforts to return to core organizational principles. Affected workers will receive severance pay and support during the transition, with the company emphasizing the need for a lean and focused approach to drive efficiency and competitiveness.
