ETSY - Why Is Online Marketplace For Handmade Items Etsy Stock Falling Today? | Benzinga
Etsy Inc (NASDAQ: ETSY) is laying off roughly 11% of its marketplace workforce as the e-commerce site grapples with a slowdown in consumer spending and increased competition from competitors like Shein and Temu. The cuts will affect roughly 225 employees.
Etsy is an e-commerce company focused on handmade or vintage items and craft supplies.
Following the restructuring plan, the headcount for the core Etsy marketplace team is estimated to be approximately 1,770 people, similar to the headcount level early in 2022.
Etsy expects to incur approximately $25 million to $30 million in charges, primarily in the fourth ...