Post any information about potential or actual Wayfair layoffs? Any chatter, news or rumors?
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The way that the groups of IE UK and DE virtual coaches have been used and treated is shocking. Basically doing all the workload and been hung out to dry. Vile
Business is too slow but they’re still asking L2s to jump on phones to handle customer calls
Hey everyone, reporters at the Boston Globe here. We're looking into potential layoffs at Wayfair (how many people might be impacted, when is it expected to happen, etc). If you have any information and would like to chat, please reach out. anissa.gardizy@globe.com, aaron.pressman@globe.com. Thank you.
% Context: "L7" i'm L6, with a set of L6 reports
% RIF will happen Jan 20
% RIF is Global except India
% Berlin office and Germany operations will prevail
% CFO pushes for more profitability, pushing for the RIF
% Budget owners received targets, targets are different per owner (no 20% across the board, but more specific ones). I’m not aware of the ranges but heard things between 0% cuts and up to 40% budget cuts.
%Technology less impacted compared to commercial orgs
%expect severe cuts in online marketing budgets
%expect severe cuts in commercial teams
%expect cuts on technology when business counterparts are cut back
%expect cuts on leadership levels where span of control is low and others have the capacity to take over
%after that RIF we’ll hit 20-30% profitability very latest in Q3, no more rif then.
Sources: initial meeting with C level suite and approx 50 more L6/VPs discussing rationales and timings. I was part of the group as I am budget owner. And many follow up discussions to discuss priorities.
Good luck everyone, it’s gonna be a tough January, but those who survive, seem to be safe in their jobs for at least 1y.
This is what got posted on blind. Start prepping.
The B thread doesn’t exist anymore.
Anyone in the company channel on Blind that can screenshot the thread for us?
The post on blind is in the company channel. Start interviewing as looks like sh-t is going to hit the ceiling fan !!
Anyone have a link to the post of blind? I’ve looked and looked and can’t find it.
I haven't heard of Blind, I'll need to check it out. I've heard rumors that global freight teams are going to take a big hit.
'Allegedly' there is a post on Blind regarding details of rumored layoffs from an L6. Seems EU centric post however.
The rumor I'm seeing is January 20th and it's supposed to be big. However, this is a complete rumor. I do not have first-hand information and I don't have any additional details.
Do we know when in Q1 2023 we can anticipate more layoffs? What's the total headcount?
Source is Wayfair's own public statements. From their Q3 earnings call Kate Gulliver said:
"Combined, we are in motion on a set of actions that represent annualized cost savings of approximately $500 million, of which roughly 60% is related to headcount and third-party labor costs, and 40% from operational initiatives. … In tandem, we are currently actioning on additional savings of several hundred million dollars that we will provide details on during our next call."
Next round will be a mix, staff that have been there a while making the most $, but also new hires, and under performers. The round after that will anyones guess. Business is beyond slow, and Wayfair has a lot to shed.
What is your source for q1 layoffs? Will it be based on seniority? What kind of severance packages?
The next round is coming in Q1, customer service will be shedding 50% or more. Business is too slow to have thousands of phone agents.
More coming and the numbers will be larger than last time. It's possible that timing will be after Christmas but before the New Year.
Business is beyond slow... enough said.
Wondering the same.