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International Business Times UK

Jastine Beatrice Yap

Etsy Announces Workforce Reduction of 225 Employees, CEO Cites 'Unfortunate' Timing

Etsy Josh Silverman Hasbro Mattel e-commerce

Etsy, founded in 2005, has seen significant growth over the years, becoming a go-to platform for individuals seeking unique, handmade, and vintage items. (Credit: Reuters)

Etsy, the e-commerce platform specialising in handmade and vintage items, has confirmed the layoff of 225 employees due to what CEO Josh Silverman described as "essentially flat" sales.

The staff received the disheartening news through a live stream on Wednesday, with Silverman acknowledging the less-than-ideal timing during the bustling holiday season.

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