The second-hand retail marketplace said most job cuts will fall in product and engineering as it adjusts to shifting online-shopping habits, while CEO Kruti Goyal said the move was not driven by cost-cutting or artificial intelligence.
Etsy is reducing its workforce by roughly 12%, eliminating about 220 jobs as the second-hand retail marketplace reshapes its platform for changing online-shopping habits. Most of the layoffs are in the product and engineering division. Chief Executive Kruti Goyal told employees in a Wednesday letter that the cuts were not driven by cost-cutting initiatives or artificial intelligence, framing the move instead as part of the company’s effort to adapt its marketplace.