MajorsJun 23, 2026
Etsy Says ‘Shop Other Jeffs’ This Prime DayMajorsAug 07, 2026
Etsy to Lay Off 12% of Workforce
Etsy CEO Kruti Patel Goyal explained why the company is letting go more than 200 employees as its performance improves.
The interior of Etsy’s headquarters in Brooklyn’s DUMBO neighborhood. The company is laying off 220 employees.
Brooklyn, N.Y.—Etsy announced this week that it is laying off 220 employees, or 12 percent of its workforce, as it looks to streamline its operations.
CEO Kruti Patel Goyal, who was promoted to CEO at the beginning of the year, made the announcement during Etsy’s second-quarter earnings call on Wednesday, accompanied by a companywide memo.
“You’ve heard me say that our first priority was to get the business growing again. Our ultimate goal, though, has always been to take Etsy to the next level of growth so we can fully deliver on our mission and our potential,” Goyal wrote in the memo.
“We are now at the point where we need to make that shift—to build the team, culture, and organization that will make that possible. This announcement is the hardest part of that work.”
The layoffs will be concentrated in the company’s product and engineering departments.
Related stories will be right here …
CEO Kruti Patel Goyal, who was promoted to CEO at the beginning of the year, made the announcement during Etsy’s second-quarter earnings call on Wednesday, accompanied by a companywide memo.
“You’ve heard me say that our first priority was to get the business growing again. Our ultimate goal, though, has always been to take Etsy to the next level of growth so we can fully deliver on our mission and our potential,” Goyal wrote in the memo.
“We are now at the point where we need to make that shift—to build the team, culture, and organization that will make that possible. This announcement is the hardest part of that work.”
The layoffs will be concentrated in the company’s product and engineering departments.
Etsy had a solid Q2, with sales increasing 6 percent. First-half revenue was up 5 percent.
In the memo, Goyal explained why Etsy is cutting jobs when the company is seeing progress.
“It’s a fair question. The answer is that today’s decisions aren’t a reflection of this quarter or even this year, but of where Etsy needs to go next,” she wrote.
“We didn’t want to ask teams to build those plans around an organization we already knew needed to change.”
She stressed that the decision was not made to cut costs, nor was it driven by the company’s use of AI, noting Etsy will be hiring in “areas important to our long-term strategy.”
“As the tools available to us evolve, the skills we need, the ways we work together, and the capabilities we build across Etsy must evolve as well,” Goyal wrote.
Etsy sellers and shoppers have complained for the last few years that the platform has seen
an increase in the amount of mass-produced merchandise for sale, rather than the handmade goods it’s known for offering.
In July 2024, Etsy launched a campaign highlighting its creators. This year, Etsy’s “Shop Other Jeffs” campaign debuted around Amazon Prime Day, promoting the small businesses on its platform.
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