Etsy (ETSY) plans 11% reduction of marketplace workforce
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Etsy (ETSY) shares slide after announcing 11% workforce reduction, says trajectory unsustainable
December 13, 2023 12:43 PM ESTEtsy (NASDAQ: ETSY) shares fell sharply today after the company announced a plan to cut 11% of its workforce. The news comes as the online marketplace looks to streamline its business in a challenging macro environment.
The layoffs of around 225 employees are expected to cost the company around $25 million to $30 million, largely made up of cash expenditures consisting of severance payments,... More
