Etsy to lay off 225 employees citing 'flat sales since 2021'

Etsy on Wednesday announced it's laying off around 225 employees, equivalent to about 11% of its staff. "We are operating in a very challenging macro...environment, and [gross merchandise sales] have remained essentially flat since 2021," Etsy CEO Josh Silverman told employees. After the cuts, the headcount of the e-commerce company will come down to about 1,770 people.