Garbage and fierce competition paint a difficult road ahead
Remember when we wrote That Spotify’s latest layoffs make sense? Well, we feel the same way about Etsy’s announcement that it would be laying off 11% of its workforce.
It’s not about us being insensitive to the employees affected by these layoffs, or making excuses about what led the NASDAQ-listed market to that point and what perhaps could have been avoided. We’re just saying this isn’t a big surprise.
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The company’s forecasts for the fourth quarter were already revealing; Now it has updated it further, telling investors to expect its “gross merchandise sales to decline 1% to 2% over the prior-year quarter period and revenue to increase 2% to 3%.” “, CNBC. reported.
But more than quantitative, Etsy’s challenge is qualitative.
