W

Wayfair Inc.

37.42
USD
9.70%
37.42
USD
9.70%
32.02 298.00
52 weeks
52 weeks

Mkt Cap 2.89B

Shares Out 77.34M

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Wayfair falls after reducing workforce by 5%

Wayfair Inc. (NYSE:W) announced a cut in its workforce reduction of 5%, which includes 10% of the corporate team. The online retailer said it is in the process of making substantial reductions in its third party labor costs as well. As a result of the workforce reduction of 870 employees, Wayfair (W) expects to incur between approximately $30M and $40M of costs, consisting primarily of employee severance and benefit costs. Most of the costs will be incurred in Q3. The estimated amounts do not include any non-cash charges associated with stock-based compensation.

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