SA: Wayfair laying off 1,000+ workers as pandemic boom reverses
SEEKING ALPHA reports: Wayfair Inc. (NYSE:W) is the latest e-commerce retailer to reverse the massive hiring ...
Wayfair W +24.42% shares soared Monday after landing a double upgrade from a J.P. Morgan JPM +0.50% analyst arguing that “tides have turned positive” for the online furniture retailer and that it is now more focused on controlling expenses.
On Friday, the company announced layoffs of about 1,750 employees, or 10% of its staff. That followed a cut of about 870 positions in August.