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Etsy lays off 225 workers after ‘essentially flat’ sales, says CEO

Staff notified via livestream Wednesday by Josh Silverman, who acknowledged ‘unfortunate’ timing during holiday season

Etsy is laying off 225 employees in a bid to cut costs as it grapples with “very challenging” economic headwinds.

The online retail company will reduce its headcount by about 11% after deciding that a “leaner, more agile” workforce would help shore up growth.

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