Wayfair (W) to layoff 1,750 workers - shares rise

Wayfair (W) double-upgraded, 'running a leaner meaner house' argues analyst

January 23, 2023 8:03 AM EST

Wayfair (NYSE: W) share shave jumped over 11% premarket Monday after analysts at JPMorgan and BofA upgraded the stock following last week's announcement that it has updated its cost efficiency plan, which includes cutting a further 1,750 employees.

BofA analyst Curtis Nagle double upgraded Wayfair to Buy from Underperform, more than doubling the price target on the stock to $65 from $30 per share.

Nagle told investors in a note that the company is "running a leaner meaner house"... More

Wayfair (W) Extends Gain, Now up 17%

January 20, 2023 10:45 AM EST

Wayfair (NYSE: W) Extends Gain, Now up 17%

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Furniture retailer Wayfair to cut 1,750 jobs to save costs

January 20, 2023 8:09 AM EST

By Granth Vanaik

(Reuters) -Online furniture retailer Wayfair Inc said on Friday it will cut 1,750 jobs, or 10% of its workforce, in a cost-saving drive at a time when persistently high inflation has pressured consumer spending.

The news sent its shares as much as 26% higher to an over four-month high of $48.94 amid broader market gains.

The Boston-based... More

Wayfair (W) announces reduction of approximately 1,750 employees, 10% of its global workforce

January 20, 2023 7:13 AM EST

Wayfair Inc. (NYSE: W), one of the worlds largest destinations for the home, today announced additional details related to right-sizing its cost structure as well as continued strong business performance since the Cyber Five period. Totaling more than $1.4 billion in annualized cost actions, the plan initiated in August 2022 is well underway and is... More

KeyBanc Starts Wayfair (W) at Sector Weight

January 20, 2023 6:42 AM EST

KeyBanc analyst Bradley Thomas initiates coverage on Wayfair (NYSE: W) with a Sector Weight rating.

The analyst commented, "Wayfair is one of the largest online sellers of furniture & home furnishings. In the near term, we see headwinds from the pandemic-spending reversal and a softening... More

Wayfair prepares to cut more than 1,000 jobs - WSJ

January 19, 2023 4:17 PM EST

(Reuters) - Online furniture retailer Wayfair Inc is preparing to lay off over 1,000 workers, or more than 5% of its workforce, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

Wayfair joins a growing list of U.S. companies - ranging from tech giants and... More

Wayfair (W) Is Preparing to Cut More Than 1,000 Jobs, Sources Say -- WSJ

January 19, 2023 3:46 PM EST

Wayfair (NYSE: W) Is Preparing to Cut More Than 1,000 Jobs, Sources Say -- WSJ

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