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New York CNN —Online furniture and home furnishings seller Wayfair is set to open its first-ever namesake store next month, the company announced Thursday. It will also feature an onsite restaurant called “The Porch,” the company said, taking a page out of Ikea’s store setup. Furniture stores need to always be advertising, Saunders added, because people generally don’t buy furniture very often. This is particularly important in furniture and finishings where people like to see and try out products before buying,” Saunders said. “If this store is successful then it could be the start of wider physical expansion for Wayfair,” Saunders said.
Persons: Joss, , Neil Saunders, Saunders, Wayfair, it’s, Niraj Shah, Wayfair “, “ It’s, ” Saunders Organizations: New, New York CNN —, GlobalData Locations: New York, Edens, Wilmette , Illinois
New York CNN —Wayfair is laying off 1,650 employees, amounting to 13% of its global workforce, as the online home goods retailer struggled to rebound following its success amid pandemic lockdowns. “I believe we need to stay focused as a company on what committed small teams can accomplish,” Shah wrote Friday. All workers will receive an email Friday about their future with the company and severance will be offered to those affected. Late last year, Wayfair’s Shah garnered attention for his blunt year-end letter to his employees telling them to blend work and life together. Shah also encouraged Wayfair employees to think of the company money they spend as their own and negotiate prices.
Persons: New York CNN —, Niraj Shah, Wayfair “, Shah, , ” Shah, Wayfair, Wayfair’s Shah, , CNN’s Nathaniel Meyersohn Organizations: New, New York CNN Locations: New York, Boston
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