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# Online furniture retailer Wayfair Is Laying Off 1,750 Workers
- URL: https://www.techloy.com/wayfair-is-laying-off-1-750-workers/
- Published: 2023-01-23T17:03:33.000Z
- Updated: 2023-01-23T17:03:33.000Z
- Author: Emmanuel Oyedeji
- Tags: / News, Tech Layoffs

Online furniture retailer, [Wayfair](https://www.wsj.com/market-data/quotes/W) Inc. has announced it is laying off about 1,750 workers, or 10% of its workforce, as the online furniture seller confronts shrinking sales after a pandemic-driven boom, per a *Wall Street Journal* report.

This follows an earlier round of layoffs by the company in August 2022, when the company cut about 870 jobs or roughly 5% of its global workforce.

The move by the Boston-based company is part of a restructuring that aims to reduce annual expenses by $1.4 billion. Executives say the two rounds of layoffs will deliver annualized savings of $750 million.

Wayfair, like many of these firms, saw an aggressive expansion during the 2020 pandemic. As of the end of 2021, it full-time employee number had risen to 16,681, from 12,100 at the end of 2018, according to data by WSJ.

Shortly after, sales declined 3% in 2021 and revenue fell almost 13% during the first nine months of 2022 with nearly $1 billion lost, prompting the company to discuss plans to rein in spending and focus on profitability.

The company now joins [Google’s parent company Alphabet](https://www.techloy.com/alphabet-google-confirms-12000-job-cuts-january-2023/), [Amazon](https://www.techloy.com/amazon-to-cut-over-18-000-jobs/), [Microsoft](https://www.techloy.com/microsoft-to-axe-thousands-of-jobs/) and other technology companies that have announced a slash to workforce numbers in recent weeks amid signs of slowing consumer spending, high inflation and a looming recession.