I've spent 8 years here and we never had strong management. Unfortunately, things are actually getting worse - I would not let these guys manage my oil change, not to mention complex digital products and solutions.
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This company is a joke. The company has no direction and the leadership team has no long term strategies about their business. I interviewed with Wayfair in June 2019 and received an offer in September and Joined on January 2020. In less than a month, they announce layoffs and guess what i was part of that. Why hire an employee, screw up their lives and ask them to join and then fire in a month. I was told they approach a last in first out. What sort of organization hires a role when they don't need one for it. Strange but true.
The company has serious problems. This company model will never make them profitable and it will not sustain long term. It will close down in near term. They dont care for employees. This company spends more money on shipment than the actual product cost and sell china made products. Sorry to say this, Leadership have no idea what they are doing. This was the easiest way for them to ease their investors.
They put me in a difficult spot. Hiring me, asking me to make a move, and then when i make it here, lay off. Wow!!
I'm sorry for those who were impacted. They recently reached out to me for a job, which I ignored, because I already went through this c-ap after 20 years at a "Boomer" tech company. Unfortunately this is how it goes now in the corporate world. They did layoffs via conference calls at my last job. I may be wrong but I assume many of you who were impacted are young - the good thing about that is that it will be easier for you to find another job than those of us over 45. I realize it's still a terrible blow but youth is on your side right now. Hope they were generous with severance.
It’s across the board - customer service, IT...you are laid off in a conference room with 50 other people, along with the other simultaneous and hourly layoffs. It has nothing to do with the Coronavirus. It has everything to do with not making a profit. Astronomical Boston rent, MAC Books and Apple monitors for all engineers, free beer, hard cider, wine, free snacks, Multi million dollar parties with open bar for 10,000 people, thousands of dollars for outings each month and quarter...it is truly a house of cards. Your tenure, performance have no bearing on who gets launched. The amount of money in waste and pseudo Silicon Valley perks is just staggering. Kids hand you a severance folder in a cattle call and cannot answer any exit questions, just refer you to a random number to call. An incredibly humiliating and poorly handled debacle. I pity the youngsters that got let go; they were clueless. My God, that place is a disaster.
Today was first round. Two more rounds scheduled before end of fiscal year.
Original prediction of 1,000+ made still stands - this would be company-wide.
Some team meetings were to inform everyone they still had their jobs, others were to inform entire teams hey were laid off and/or being re-distributed throughout - Ex. Freight
Curios to see how this continues to play out after fourth quarter earnings report on Feb. 28.
Nope. It was confirmed to be a massive layoff meeting. This company is literally the worst.
Some of these meetings with groups are simply to inform them they are not being included in the cut.
TA is having a lay-off meeting at 10am, as we speak. Insane that they are doing it publicly...
The leadership of this god forsaken company is running it into the ground. They should be the first ones let go, especially in SWTA. It’s literally being run by a bunch of short-sighted mo–ns who wouldn’t know a logical strategy if it hit them over the head. I feel really bad about recruiting all of the engineers I did to this c-ap company.
What tech company doesnt hire sales and customer service for pennies?
They have no loyalty to their employees. Having worked at Wayfair for several years, they promoted people based on tenure and politics rather than experience.
They also lay-off and fire people who have worked for them for years, without a care in the world. They hire kids right out of school for customer service and pay them pennies.
Good. More meeting rooms available.
It’s mostly customer service positions and sales that are being laid off.
Are any L6+ getting laid off?
What about recruiting? The function of hiring feels redundant when you’re offloading employees
Stock value melting down is now anticipated by the management. Pay structure that incorporates any stock increases is natural for any company worried about its finances.
You’re welcome, but I hope numbers are far less than what I have heard/reported here (1,000+). At the end of the day, the shareholders are usually top priority for a publicly traded company, right now they’re not happy. March 2019: $169/share, February 2020: $96/share
@4gto I think that they will hit tech in Boston more than anything, i know that call centers will be hit but thats peanuts in terms of payroll spend if compared to tech - or, they will hit both equal, that actually makes the most sense - disclaimer: i am a low level grunt, i am typically clueless
man we just bought a house this would s— big time
I just want to say thanks to whoever started this thread three days ago - thanks for the heads up - my group is clueless and people were looking at me like I was crazy as I started to talk about this rumor yesterday. Anyhow, we are about to find out more tomorrow.
Hey @4ygi nothing unusual on my calendar...
Does anyone see any unusual Conference Room bookings or weird meetings on their calendar?
there is a 'follow' button below this main message - if you click it the browser will remind you if there is an update to this page - so you do not have to come here that often - also, on the main page they have an option to sort by active threads - that's good to hit sometimes as people post in other threads too and that option tells you what threads had recent updates.
Yep - @4ypr is correct - it all started long before this virus became a problem. also, this layoff round will be a logistically complicated thing, I'd say they started prepping for this back in October. you need to do an analysis of workload, you need to forecast things, transpose this with individual performance, have senior folks wrangle for headcount, none of this happens in a month (which is how old this virus is)
True
Easy to blame on virus but I believe the tariffs were the hardest hitting for Wayfair.
It's my undestanding that they briefed managers today - decisions on who to cut were made on a higher level. now managers know and there will be meetings with staff early tomorrow... Not sure about Hebron and Boston, I see some folks mentioned it below but not sure...
“(NYSE:W) slumped 26.7% in October, according to data from S&P Global Market Intelligence, after the online home-furnishings retailer announced mixed third-quarter 2019 results and warned of potentially decelerating growth. The stock slumped nearly 19% on Oct. 31 alone, the same trading day as its quarterly update was released.”
Easy to blame on virus but I believe the tariffs were the hardest hitting for Wayfair.
can we share page this with more wayfair folks, i am hoping someone will spill beans early so we can be ready
1,000 would be harsh but I would not be surprised. Things are not looking good, judging on the sheer call volume things look bleak. And it was just a matter of time when this whole Corona Virus things started catching up with businesses here. I was in my local Target two hours ago and there is more empty shelves than I've ever seen. We have 12,124 (per 10K SEC Form) employees, and about 3K are in Customer Service, that will be hit hard. I honestly do not have any insider info but all things I am seeing look bleak...
Good luck all!
Frankly, as they purge ranks, please pay attention on who is kept - especially some of the L6s are sooo incompetent. Snake oil salesman. Good luck having any kind of technical conversation with them...
So far, everyone I have heard from has mentioned their bonus being inclusive of severance payout. I assume severance differs based on tenure and seniority, but specifics unknown at this point. Also, rumored for now, could be 1,000+ total let go. This would be from total employee pool of 11k+
There is nothing on blind.
Anyone knows what the severance is?
What kind of rules are used?
Who is eligible?
teamblind dot com
keep in mind though:
- you will have to give them your wayfair email address
- they are korean, they have an office in sf
- data resides in korea, we are not sure how it's safeguraded
- you will have to have an app - they use fingerprinting via the app
- you are the product, they sell your info to advertisers
- we do not know what's their subpoena or court order process, we do not know what companies they work with
Could you post the blind link pls?
You can follow more details on Blind
Groups likely to see cuts: Real Estate, Human Resources, Sales. Varying levels - may be linked to tenure?
If your 1on1 has been moved from regularly scheduled timeframe to Thursday with your manager, this may be the “meeting” - looks like many are being setup for 2pm onward.
Officially nicknamed; “Valentine’s Day M—acre” within the ranks.
Any idea which levels will be affected?
Any updates on todays meeting, I too would like a heads up on which departments are affected?
I am literally checking this thread every few hours. anybody know anything else? of course most interested to know what orgs.