Exclusive: Etsy Is Reorganizing Its Workforce, Which Includes More Layoffs
Etsy is reorganizing behind-the-scenes, which includes another reduction of 15% to its global workforce.
The Brooklyn, N.Y.-based business counted approximately 1,000 employees at the end of 2016, and had previously announced a headcount reduction earlier this year. All in all, Etsy’s workforce will be cut by 22% this year, or approximately 230 people. Cuts were made across the organization with the intention of streamlining middle management and senior levels, according to Etsy. Many of reductions affected product management, marketing, and administrative roles.
While Silverman acknowledges that there will be long-term cost savings as a result of the headcount reduction, he stresses that wasn’t the objective. “This puts us at our fighting weight,” he says.