“Through two years of aggressive expansion, we no doubt built some excess, inefficiency, and even waste at times, in almost every area,” CEO Niraj Shah said.
Wayfair hasn’t ever turned a profit because of its widening losses, which has caused its stock price over the last year toShipping bulky furniture is expensive, and the company has decided to hire aggressively and expand the business instead of post near-term profit.
“To position the organization to take advantage of the opportunity ahead, we continually evaluate the needs of the business and work to increase efficiencies while aligning our teams with the initiatives that drive the greatest impact for our customers,” a company spokesperson said.: “On reflection this last period of investment went on too long . . .
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