Wayfair layoffs: Online furniture retailer cuts 1,650 jobs

(KRON) — Wayfair has cut 1,650 jobs. The layoffs represent approximately 13% of the online furniture retailer’s global workforce and 19% of its corporate team, according to a news release the company put out on Friday.

“Earlier today I sent a note to all Wayfair employees detailing today’s action and the rationale behind it, which is available for everyone to read on our company site,” said Wayfair CEO, co-founder and co-chairman Niraj Shah in a statement. “The changes announced today reflect a return to our core principles on resource allocation, such as getting fit on spans and layers as well as focusing on our highest priorities. As a result, we’re reducing team sizes across the organization, as well as reducing seniority in certain roles that we plan to rebuild with modified leveling over the course of this year.”

Macy’s laying off thousands, set to close Bay Area store, according to report

In the press release, the layoffs were characterized as a “workforce realignment plan.”

“To our colleagues departing Wayfair, I want to thank you for your incredible contributions to Wayfair and to our customers,” Shah continued. “You have so much to be proud of. I truly regret the impact this will have on you.”

The job cuts are expected to help save the company $280 million, according to the press release. Wayfair has a warehouse in San Leandro.

For the latest news, weather, sports, and streaming video, head to KRON4.