Wayfair Accounts Show Significant UK Workforce Reduction

Accounts filed at Companies House have revealed that Wayfair has reduced its UK headcount by more than half in the last two years.  

Documents show that the US-based, online furniture retailer employed on average 405 staff in the ending 31st December 2024, compared with 587 in 2023 and 847 in 2022.  The workforce reduction correlates with turnover decline: figures show revenue of £59.4m in 2024, down from £69.2m in 2023 and £83.5m in 2022.

Wayfair states that the 14% revenue reduction in the last year was 'driven by a 17% reduction in administrative expenses,' adding, 'The strategy of the Company is to continue to maintain its warehouse and fulfilment services operations in the United Kingdom to drive Wayfair Stores Limited's European growth. This will increase the underlying operating expenses, while also increasing revenue and operating profit in the coming years.'   

A statement by Wayfair's board reads: “The company is focused on driving cost efficiency, nailing the basics and earning customer and supplier loyalty every day.

“Although the short-term macro-economic picture is unpredictable, we are confident in our ability to navigate its challenges and contribute positively to our ultimate parent’s commitment to maintain adjusted EBITDA profitability and then to reach positive free cash flow.”

Source : Insight DIY

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