Home / Business and Economy / Etsy Lays Off 12% of Workforce
Etsy Lays Off 12% of Workforce
6 Aug
Summary
- Etsy laid off approximately 220 employees, 12% of its workforce.
- Layoffs primarily impact product and engineering departments.
- Affected employees will receive at least 16 weeks of severance pay.
Etsy Inc. has initiated a significant restructuring, resulting in the layoff of around 220 employees, representing 12% of its total workforce. The company disclosed this move in a regulatory filing on Wednesday, August 5, 2026. CEO Kruti Patel Goyal conveyed in an internal email that the primary impact will be felt within the product and engineering divisions.
Patel Goyal emphasized that while cost savings are a byproduct, they are not the primary objective of this initiative. The restructuring is intended to enhance operational coordination and accelerate decision-making processes. She assured employees that investments in business growth and strategic hiring will continue. The company also announced a new stock repurchase program authorizing up to an additional $2 billion in common stock buybacks.
