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A person holds a smartphone with the logo of US e-commerce company Wayfair Inc. on screen in front of the website in Stuttgart, Germany, on Aug. 28, 2022. T. Schneider/Shutterstock
Wayfair said on Friday it would lay off 1,650 employees, or about 13 percent of its workforce, sending the company’s shares up as much as 15 percent.
The online furniture retailer said the job cuts, which affect 19 percent of its corporate employees, would lead to annual cost savings of $280 million.
