The Economic Times

Etsy posts strong second quarter, then cuts 12% of workforce; CEO Kruti Patel Goyal says layoffs aren't driven by AI or cost-cutting

Etsy is reducing its global workforce by approximately twelve percent. This significant restructuring impacts around two hundred twenty employees, primarily in Product and Engineering. The company's CEO stated these decisions were not driven by cost-cutting or artificial intelligence. This move follows strong second-quarter financial results and a raised full-year guidance. Affected employees will receive comprehensive severance packages and healthcare support.