W Stock Recent News
W LATEST HEADLINES
Wayfair is laying off 13% of its global workforce, or around 1,650 staff. "I truly regret the impact this will have on you," CEO Niraj Shah told staff.
Wayfair Inc. shares rose 15.9% in premarket trades Friday after the home goods retailer announced a workforce reduction involving approximately 1,650 employees. The cuts represent approximately 13% of the company's global workforce and approximately 19% of its corporate team as of Dec. 31, 2023.
Wayfair is cutting 1,650 jobs, or 13% of its workforce, it said Friday. Almost 1 in 5 corporate staff are being laid off and the company is reviewing levels of management.
Digital home goods retailer Wayfair is cutting 13% of its global workforce as it looks to trim down its structure, cut layers of management and reduce costs.
Wayfair might be on the cusp of a turnaround after nine quarters of declining sales. It's been implementing a cost-savings program, but it's facing challenging macroeconomic headwinds.
Over the next week, all eyes will be on a slew of financial companies, with reports expected from J.P. Morgan, Morgan Stanley and Goldman Sachs.
Wayfair (W) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).
Wayfair (W) made it through our 'Fast-Paced Momentum at a Bargain' screen and could be a great choice for investors looking for stocks that have gained strong momentum recently but are still trading at reasonable prices.
Wayfair Inc. is struggling to stabilize sales post-Covid, but the company is optimistic about its potential for returning to double-digit growth. A potential buyout by a Chinese retailer is unlikely due to Wayfair's improved business model and the low valuation of the company. The stock should rally as Wayfair hits 10% growth targets, though economic weakness in 2024 could delay such a goal.
Shein or Temu reportedly could be potential merger partners for Wayfair. Either of the two Chinese-founded eCommerce companies could be a good fit for a merger with the Boston-based home goods retailer, Seeking Alpha reported Friday (Dec. 29), citing a paywalled list of 2024 predictions by The Information.