Online furniture seller Wayfair cuts 550 jobs, 3% of workers

[left-of-center2012]

Online furniture seller Wayfair said Thursday that it is cutting about 550 jobs, or 3% of its total workforce.

Most of the layoffs are at its Boston headquarters and its European office in Berlin. The company has about 17,000 employees worldwide.

Shares of Wayfair Inc. fell 10% to $86 Thursday afternoon. Its stock has fallen 28% in the last year.

Founded nearly 18 years ago, Wayfair has never made a profit. Although sales have risen as more people become comfortable buying sofas and rugs online, the company spends much of its revenue on shipping, advertising and other costs.

https://abcnews.go.com/Business/wireStory/online-furniture-seller-wayfair-cuts-550-jobs-workers-68970072

[pwb]

1. All the commercials need to be paid for.

The Media takes from us all, in so many ways.

[redstateblues]

2. I've often wondered if Wayfair is a good business model

I like to sit on couches and chairs before I buy them

[Freddie]

3. Bought a number of things from them, always happy

A TV stand/cabinet, a microwave cabinet, couple other things. Once had to return something, no problem at all. Surprised they’re not making a profit.

[Sherman A1]

6. Same here

I have purchased from them over the years and found the products to be okay and offering some unusual items not seen in the stores around here. Had one defective item and they took care of it right away by shipping a replacement. Just like anywhere else you have to shop around and find the best deal, sometimes they have it and sometimes they don't.

[Freddie]

8. Yes their variety is outstanding

Bought a hanging light for the dining room and they had hundreds to choose from at a good price.

[dewsgirl]

4. I stream most of my MSNBC viewing, I don't even know

where Wayfair is, but I certainly know the jingle. 🎶Wayfair, you've got just what I need.🎶

[Wellstone ruled]

5. Everything on WayFair is available via

Walmart.com. Oh,retail of all types is in the toilet.

[SCantiGOP]

7. Their commercials are so obnoxious

I went to Google reviews to see how their service and products were rated.
I see a positive review above, but overall they were rated very poorly. A lot of complaints about not delivering on time, cheap merchandise and problems with returns.