Junkification and fierce competitors paint a tricky path forward
Keep in mind once we wrote that Spotify’s newest layoffs make sense? Nicely, we really feel the identical about Etsy’s announcement that it might lay off 11% of its workforce.
This isn’t us being callous with staff affected by these layoffs, or making excuses for what led the NASDAQ-listed market to that time and what might maybe have been prevented. We’re simply saying that this isn’t a lot of a shock.
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The corporate’s fourth-quarter steerage was already a inform; it has now up to date it additional, telling traders to anticipate 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.
However greater than quantitative, Etsy’s problem is qualitative.
