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Wayfair CEO says, ‘I take responsibility’ for layoffs, as stock slides 20%

·3 min read
Wayfair CEO says, ‘I take responsibility’ for layoffs, as stock slides 20%

Online furniture retailer Wayfair Inc. plans to lay off about 870 employees as it looks to cut back its expenses given that e-commerce growth for home furnishings hasn't played out as robustly as executives once expected.