Major Changes Coming to One of the World’s Largest Online Home Goods Companies
Online retail giant Wayfair is looking at substantial changes to its workforce, investments, and new ventures.
In a recent company statement reported on by CNBC, “Wayfair is exiting the German market and plans to cut as many as 730 jobs, or about 3% of its global workforce, as it looks to focus on new growth drivers such as physical retail. The affected positions include corporate roles as well as roles on Wayfair’s customer service and warehouse teams.”
The decision to pull itself from Germany is a result of many factors. “Scaling our market share and improving our unit economics in the German market has proven challenging due to factors such as the weak macroeconomic conditions for our category in Germany, the lower maturity of our offering, our current brand awareness, and our limited scale,” said Wayfair founder and CEO Niraj Shah in a company memo.