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US-based firm Wayfair's CEO lays off 5% of its global workforce
short by Purnima Rajput / on Sunday, 21 August, 2022
US-based e-commerce company Wayfair's CEO Niraj Shah has laid off 870 employees after the company's anticipated growth did not materialise. After slashing 5% of its global workforce, the company is looking to make reductions in third party labour costs. The company is expecting layoff costs to range between $30-$40 million, which mainly consists of employee severance.
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