Etsy to Layoff 11%

Etsy, Inc. is an American e-commerce company focused on handmade vintage items and craft supplies. The company was founded in June 2005 and is headquartered in Brooklyn, New York. The items sold on the platform include jewelry, bags, clothing, home decor, furniture, toys, art, and tools. Sellers are given a personal E-store front to list their goods and are charged $0.20 USD per item and a 6.5% fee of the final sale value.

According to reports, Etsy has announced an 11% workforce reduction to create a more effective and efficient workplace. The job cuts are expected to be completed in the first quarter of next year, which amounts to approximately 225 employees. The report further mentions that Etsy’s core marketplace team will employ around 1,770 people in 2024.