PREVIOUS OP HERE FROM THE LAST ALERT I AM WARNING YOU AGAIN EARLY SO THAT YOU CAN START TO PREPARE. EXPECTING 1200 EMPLOYEES ACROSS EUROPE AND US, CFO IS PUSHING FOR THIS AND WILL BE A HOT TOPIC IN THE NEXT UP AND COMING EARNINGS CALL ON 22 MAY. NIRAJ EXPECTED THAT THE LAST ROUND OF LAYOFFS WOULD HAVE HAD A POSITIVE EFFECT ON THE SHARE PRICE AND THE BUSINESS OVERALL BUT IT IS NOT PROVING EFFICIENT ENOUGH AND THEY ARE STRUGGLING TO RAISE FURTHER CAPITAL WITHOUT SACRIFICE. EXPECT MORE OF OUR COLLEAGUES TO A RANDOM SELECTION RIF. THIS IS NOT A DRILL
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I’m not surprised to hear this (I was laid off in the January round), Seeking Alpha forecasted Wayfair be insolvent by Q2 this year and it seems they could be correct. Hearing from colleagues still there, it’s descending into chaos with most teams having approx 50% actively looking for other work as they know Jan round wasn’t the end of it.
Personally I think they will pull out of the EU market completely and try and salvage what they can in the US. For tax purposes, small team may be retained in Ireland. The “Winning in Germany” initiative sounds like a joke in hindsight, DE market has seen nothing but cuts in the last year.
I’ll be very interested to see what happens on the earnings call on 4th May
come on tell us more we are dying here
Earnings call isn’t May 22
I hope the first ones to go are Niraj and Steve-- if these clowns couldn't have made the business profitable by now, they never will. Good luck raising funds!
I hope the first ones to go are L5+ that have delivered zero value to the org in the past 18 months
OP i don't remember your qualifications from last time, are you L6? tell us more please!
Thanks for the alert. Last time it wasn’t a random rif, since some teams were wiped out entirely. I doubt it will be random this time, but we’ll see. Do you happen to know what departments will be affected most?