Etsy issues layoffs for almost quarter of staff.
Did the termination notices come with glitter?
In Etsy’s last fiscal year the company burned through to a $29.9m net loss, and as of most recent last quarter has yet been unable to get into the black.
Etsy says it will now be laying off about 22 per cent of its staff, or around 230 people.
Etsy approximates that the severance costs from combined layoffs will end up being between $12.5m and $16.8m by the conclusion
Wednesday morning shares of Etsy were trading at $14.10, well below its 2013 IPO price of $16.
