Etsy slashes almost a quarter of its staff
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Etsy slashes almost a quarter of its staff
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Re: Etsy slashes almost a quarter of its staff
#2Etsy should go back at what they did initially and support the craftsmen instead of the china imports, maybe that would help bring them back on track.
Re: Etsy slashes almost a quarter of its staff
#3This seems like the 'bubble' deflating.
Not so much a bang, more of a fizzle as "the big kids" come in and cut deeply.
That and investors keeping out of seed-stage funding because it has gotten so bloated by everyone wanting their own startup.
I've seen Genius, Etsy, Uber... etc. It seems like a lot more startups are getting shook up and cut down.
Re: Etsy slashes almost a quarter of its staff
#4Seems like a sinking ship for anyone there involved in software especially since they like to blame their tech and poor search for a lot of their problems.
Re: Etsy slashes almost a quarter of its staff
#5I lost interest in Etsy when I saw a bunch of manufactured crap I could by anywhere else. There was a turning point where Etsy became more of this than original, personally crafted items.
Re: Etsy slashes almost a quarter of its staff
#6This seems like the 'bubble' deflating. Not so much a bang , more of a fizzle as "the big kids" come in and cut deeply. That and investors keeping out of seed-stage funding because it has gotten so bloated by everyone wanting their own startup. I've seen Genius, Etsy, Uber... etc. It seems like a lot more startups are getting shook up and cut down.
Etsy looks to be just fine. Sales grew 33% for 2016 vs 2015. Their operating loss is down to a very small trickle at $2m for the latest quarter. To go with $275m in cash.
They appear to have a very nice business that's trading for a reasonable four times sales and likely heading toward profitability. What's the problem? Cutting bloat is exactly what they should be doing, it'll drive them to profitability faster.
Re: Etsy slashes almost a quarter of its staff
#7Etsy should go back at what they did initially and support the craftsmen instead of the china imports, maybe that would help bring them back on track.
I mean, Isn't that what they are doing? Shrinking workforce in theory "refocusing" which is code for "we don't need all these people if we are targeting a smaller market"?
Re: Etsy slashes almost a quarter of its staff
#8I remember hearing that Etsy had an unusually large number of women working on the development team. I wonder how this layoff is going to affect that? Will they keep up their diversity initiatives, or do they consider that more of a luxury?
I also read that they were also hiring a lot of bootcamp grads. It would be interesting to see the percentage of layoffs coming from bootcamps.
Re: Etsy slashes almost a quarter of its staff
#9Etsy should go back at what they did initially and support the craftsmen instead of the china imports, maybe that would help bring them back on track.
I mean, Isn't that what they are doing? Shrinking workforce in theory "refocusing" which is code for "we don't need all these people if we are targeting a smaller market"?
Maybe. If not, they wouldn't be the first company to slash jobs while at the same time expanding customer/supplier base.
Re: Etsy slashes almost a quarter of its staff
#10I remember hearing that Etsy had an unusually large number of women working on the development team. I wonder how this layoff is going to affect that? Will they keep up their diversity initiatives, or do they consider that more of a luxury? I also read that they were also hiring a lot of bootcamp grads. It would be interesting to see the percentage of layoffs coming from bootcamps.
The diversity ratio is likely not going to be affected just by some people being laid off. I wouldn't expect it to change or to have been a factor in this.