Once again, Etsy’s layoffs come as no surprise

Remember when we wrote that Spotify’s latest layoffs make sense? Well, we feel the same about Etsy’s announcement that it would lay off 11% of its workforce.

This is not us being callous with employees affected by these layoffs, or making excuses for what led the NASDAQ-listed marketplace to that point and what could perhaps have been prevented. We are just saying that this isn’t much of a surprise.


The Exchange explores startups, markets and money.

Read it every morning on TechCrunch+ or get The Exchange newsletter every Saturday.


The company’s fourth-quarter guidance was already a tell; it has now updated it further, telling investors to expect its “gross merchandise sales to decline between 1% and 2% during the period from the year-ago quarter and revenue to increase between 2% and 3%,” CNBC reported.

But more than quantitative, Etsy’s challenge is qualitative.

 

See also  WooCommerce Variable Product Attributes Setup 2023
Subscribe To Our Newsletter!
Hi, I’m Mohamed. I share delicious recipes that I have cooked and loved. I’ve been food blogging for over 10 years and have a Diploma in Nutrition. You will find many healthy recipes as well as my favourite comfort food on the blog because I believe in a balanced diet.

Related Posts

Fintech’s biggest hits and misses of 2023

As 2023 comes to a close, we’re here to look back at the biggest fintech stories of the year. Silicon Valley Bank’s implosion felt like a fintech…

It’s critical to regulate AI within the multi-trillion-dollar API economy

Alex Akimov Contributor With two decades of tech leadership experience, Alex Akimov, former head of API at Adyen, now revolutionizes embedded finance at Monite by building best-in-class…

EU’s provisional deal on gig worker rights fails to get enough backing from Member States

Not so fast on that Christmas present for precarious gig workers in the EU: A political deal announced mid month, which aims to bolster platform workers rights…

Arduino exploring India manufacturing to limit counterfeit sales

Arduino is considering manufacturing in India. The startup, best known for its open source microcontroller boards, hopes to restrict the rise of counterfeit boards and cater to…

Top robotics names discuss humanoids, generative AI and more

Last month, I took an extended break. In a bid to keep my robotics newsletter Actuator (subscribe here) up and running, however, I reached out to some…

Pornhub owner pays US government $1.8M to resolve sex trafficking probe

Pornhub’s parent company Aylo Holdings will pay $1.8 million to the U.S. government to resolve a charge of profiting off of sex trafficking. The company, formerly known…