USA - Wayfair, one of the world’s largest furniture retailers,  recently announced a reduction of approximately 1,750 employees, representing 10% of its global workforce as of December 31, 2022.

This includes approximately 1,200 or 18% of corporate employees.

These changes reflect efforts to eliminate management layers and reorganize to be more agile. Inclusive of the

August 2022 restructuring, the labor portion of the plan represents approximately USD 750 million in annualized cost savings, with the major steps necessary to realize these savings now complete. Wayfair had 16,681 full-time employees as of Dec. 31, 2021.

The Boston-based retailer joins a growing list of U.S. companies - from tech giants such as Alphabet Inc and Microsoft Corp to home goods retailer Bed Bath & Beyond Inc - that have slashed their workforce and reined in spending to ride out the economic downturn.