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Wayfair lays off 13% of its workforce weeks after telling employees to work harder (www.cnn.com)

submitted 10 months ago by L4s@lemmy.world to c/technology@lemmy.world

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Wayfair lays off 13% of its workforce weeks after telling employees to work harder::Wayfair is laying off 1,650 employees, amounting to 13% of its global workforce, as the online home goods retailer struggled to rebound following its success amid pandemic lockdowns.

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[–] Dead_or_Alive@lemmy.world 0 points 10 months ago

Terrible metrics are used by many companies which encourage short term profits over the long term health of the organization. I’ve seen managers make decisions to cut expenses which look good on a P&L in the short term but have terrible consequences for the organization that only become apparent two or three years later. Usually after the person who made the decision has collected their bonus and moved onto another organization.

The sad thing is those people are promoted or recruited over more stead fast leaders who can actually grow an organization because their metrics look good.