Wayfair cutting about 870 jobs, or 5% of global workforce

Associated Press

Wayfair is cutting about 870 employees, or 5% of its global workforce, as part of a plan previously announced by the home goods company to manage operating costs and realign its investment priorities. Wayfair Inc. said in a regulatory filing that it anticipates approximately $30 million and $40 million of costs, related mostly to employee severance and benefit costs, being incurred in the third quarter.