Economy
Related: About this forumOnline furniture seller Wayfair cuts 550 jobs, 3% of workers
Online furniture seller Wayfair said Thursday that it is cutting about 550 jobs, or 3% of its total workforce.
Most of the layoffs are at its Boston headquarters and its European office in Berlin. The company has about 17,000 employees worldwide.
Shares of Wayfair Inc. fell 10% to $86 Thursday afternoon. Its stock has fallen 28% in the last year.
Founded nearly 18 years ago, Wayfair has never made a profit. Although sales have risen as more people become comfortable buying sofas and rugs online, the company spends much of its revenue on shipping, advertising and other costs.
https://abcnews.go.com/Business/wireStory/online-furniture-seller-wayfair-cuts-550-jobs-workers-68970072
pwb
(11,287 posts)The Media takes from us all, in so many ways.
redstateblues
(10,565 posts)I like to sit on couches and chairs before I buy them
Freddie
(9,273 posts)A TV stand/cabinet, a microwave cabinet, couple other things. Once had to return something, no problem at all. Surprised theyre not making a profit.
Sherman A1
(38,958 posts)I have purchased from them over the years and found the products to be okay and offering some unusual items not seen in the stores around here. Had one defective item and they took care of it right away by shipping a replacement. Just like anywhere else you have to shop around and find the best deal, sometimes they have it and sometimes they don't.
Freddie
(9,273 posts)Bought a hanging light for the dining room and they had hundreds to choose from at a good price.
dewsgirl
(14,961 posts)where Wayfair is, but I certainly know the jingle. 🎶Wayfair, you've got just what I need.🎶
Wellstone ruled
(34,661 posts)Walmart.com. Oh,retail of all types is in the toilet.
SCantiGOP
(13,873 posts)I went to Google reviews to see how their service and products were rated.
I see a positive review above, but overall they were rated very poorly. A lot of complaints about not delivering on time, cheap merchandise and problems with returns.