Wayfair lays off 13% of its workforce weeks after telling employees to work harder | CNN Business
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Wayfair is laying off 1,650 employees, amounting to 13% of its global workforce, as the online home goods retailer struggled to rebound following its success amid pandemic lockdowns.

Wayfair lays off 13% of its workforce weeks after telling employees to work harder::Wayfair is laying off 1,650 employees, amounting to 13% of its global workforce, as the online home goods retailer struggled to rebound following its success amid pandemic lockdowns.

  • Ross_audio@lemmy.worldEnglish
    9·
    1 year ago

    Wayfair has not been traded significantly by pension funds because it has not been a significant stock for long enough.

    There may be some index linked investments which have pulled in Wayfair stock, but those will be treated as a whole and will be designed to be less risky.

    It is a bad thing when stock value can be manipulated upwards by layoffs. It’s usually a sign the company is doing worse than they expected, their growth has reached a limit, so logically their long term forecasts should decrease.

    But the market recognises their short term balance sheet has just seen an improvement and the short term money moves in. Ready for the ultimate buy out of a company that’s reached the peak of growth, so the main owners are ready to sell to a larger company.

    Hopefully at an inflated market rate because short term decisions are being made to make the company look better to an algorithm.