"Wayfair Announces 13% Workforce Reduction, Cutting 1,650 Jobs"

Wayfair is laying off 13% of its global workforce, affecting around 1,650 employees, as part of a restructuring effort to streamline its operations and reduce costs. The company aims to save about $280 million through this move, which focuses on cutting management and leadership positions. This decision comes as retailers like Hasbro, Etsy, and Macy's also announce workforce reductions amid slowing demand and economic uncertainty, reflecting the challenges faced by the retail sector.