Posted on 01/19/2024 11:21:16 PM PST by DallasBiff
Struggling online retailer Wayfair on Friday said it will slash around 1,650 employees — or 13% of its global workforce of roughly 14,000 — just weeks after its billionaire CEO caused a stir by saying workers should log longer hours.
Niraj Shah, the boss of the Boston-based furniture-selling e-commerce site, said the company needed to cut costs — its third round of layoffs since summer of 2022 –after going “overboard” on hiring during the pandemic.
(Excerpt) Read more at msn.com ...
Maybe if their merchandise wasn’t so overpriced, they’d be doing better.
Ditto.
looks like now they’ll have to work more hours....
It could have been a weeding out process to identify the hard workers and the slackers. Being fired for not working more when asked sounds like defendable grounds for termination.
EC
Furniture stores are a tell tale sign of the economy. They start going broke first because people are delaying big buys. I’m expecting a Recession because of the money presses slowing down so this could be the first sign it is on its way.
Niraj Shah is a weird name.
Every company and organization has workers that started out as good employees. Once they get well past their probationary period some discover the channels to “quiet quit” or “coffee badging” dumping the work load on everyone else.
The already hard workers will have to work longer hour(s) to cover that one or two hours a day those quiet quitters actually worked until real workers are found to replace them.
Sounds Indian.
“Niraj Shah, the boss of the Boston-based furniture-selling e-commerce site”
Are there any companies left that don’t have an H1B as CEO?
Oh yeah, almost forgot, United Airlines...
They are way overpriced. To the tune of 100 dollars on some items.
How they have stayed around like that is beyond me.
That’s funny , I just this morning saw an advertisement for Wayfair starring Kelly Clarkson? Makes me curious as to how much they paid her to shill the crap for them and if maybe that money could have gone towards the employee’s as opposed to someone who really doesn’t need it? The prices for this company are high across the board and it appears the CEO is the only person getting rich off of the stuff you can get just about anywhere.
Because shipping is free. I love Wayfair,
Must have been losing their online sales of trafficked children to hurt them.
not to worry, the hyped-up, AI manic, speculative stock market continues to melt upwards...convinced of no recession and 5+ rate cuts before end of year...
Leave Wayfair alone. 😥
The irony is that a rising stock market is one of the signals that tells the Fed there is no reason to lower rates.
The stock market rising based on anticipated Fed rate cuts is amusing.
People think the economy will turn around in 2024 and layoffs will greatly taper.
They're delusional. Layoffs haven't even really started. We're in for a long and bumpy economic ride.
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