Layoff update: This company has announced the layoff of 1,650 employees globally, or 13 percent of its workforce, to reduce costs.
Wayfair layoff: E-commerce company Wayfair has announced the layoff of 1,650 employees globally to reduce costs. The company has announced to lay off 13 percent of its workforce. The company is expected to achieve more than $280 million in annual cost savings from the latest layoffs.
The CEO of the company gave information
“I want to thank the 1,650 team members who are leaving us today,” Wayfair co-founder and CEO Neeraj Shah said in a blogpost on Friday. You are all valuable and talented individuals, and each of you has made incredible contributions to Wayfair and our customers.
There was a boom in business during Corona
Wayfair saw a boom in its business due to the pandemic as consumers staying at home spent money on home goods like furniture and decor. “Sales increased from $9 billion to $18 billion almost overnight and the company needed to increase its workforce,” Shah said. As the impact of the virus subsided, the demand for domestic products started declining. Due to which, Wayfair needs to reduce its office space to ensure that its staffing levels are proportionate to the business it is doing.
Google had laid off 1000 people
The company said it will offer severance to those affected and support them during this transition. “We will also provide access to employee assistance program resources and Wayfair alumni networking assistance, as well as other benefits and resources,” Wayfair said. In 2022, Wayfair laid off 870 people, or 5 percent of the company’s global workforce, because The growth they had hoped for did not materialize. Meanwhile, media reports said Google has laid off more than 1,000 employees in the latest round of job cuts announced by the company. The company has laid off Google’s hardware, central Laid off employees in many departments including engineering teams and Google Assistant.
Behavior Interactive hit by layoffs
Two video game companies, CI Games and Behavior Interactive, have laid off many employees due to difficult market conditions. Poland-based CI Games has laid off about 10 percent of its workforce companywide, while Canada-based Behavior Interactive has cut its workforce by about three percent, reports GamesIndustry.biz. CI Games, best known for the Sniper, Ghost Warrior and Lords of the Fallen series, has laid off most of the staff from the marketing team. Citing sources, the report said that Lords of the Fallen developer Hex Works and Sniper Ghost Warrior studio Underdog have also been affected.
10 percent employees will be affected
A CI Games spokesperson was quoted as saying, “To maintain the strength and stability of the business, CI Games has taken this difficult but necessary decision, which will affect approximately 10 percent of the company’s employees.” Behavior Interactive, on the other hand, confirmed that the layoffs only affected their Montreal employees. A spokesperson for Behavior Interactive was quoted as saying, “Recently, changing market conditions have made it necessary to adjust the scope of many behavior projects. It added, “In these situations, our priority is always to transfer talent to other There is a need for re-appointment in the project. Unfortunately, this option is not always available to us. These departures represent less than 3 percent of our total workforce.
