Etsy Lays Off Hundreds Including 2 C-Suite Execs

by: Fruitylovesyou

And to think, just 4 months ago josh "ego" Silverman was telling bruh Jim Cramer about how they've held on to almost all their pandemic gains.

He's now telling laid off Etsy employees we're sending you to the glue factory because GMS essentially flat. He must not think they know how to read a proxy statement. He was proclaiming to shareholders with great pride on 2022 performance.  Employees: essentially flat gms. Stockholders: slightly up gms

I wonder if josh told shareholders gms was slightly flat if he would of still gotten all that performance based compensation. Lets all join hands and thank Mr "keeping commerce human"

by: Fruitylovesyou

And to every etsy employee, the best thing you can do to protect yourself and fellow humans... is reap the rewards that come with being a whistleblower and snitch them out to the doj and sec. Because if you're in tech, you will never escape these types.

by: Stone Cutter

*** Another variable….Amazon ***

I heard a market analyst on CNBC this week say that the
e-commerce space for this holiday season has jumped by leaps and bounds for Amazon.

He also said that the rest of e-commerce is eating Amazons dust and that no one is coming close to Amazon this holiday season except for Walmart who not only has an e-commerce venue but also has their brick & mortar retail stores.

And this is a problem for all of us as we cannot tell consumers what to purchase. Too “niche” may be a problem for Etsy in the short term as inflation continues to ease.

2024 may be a difficult year for small Sellers.

by: Fruitylovesyou

I think the tech companies are waiting not see the fallout on antitrust cases before they make their move. They'll wait til Google or Amazon are on consent decrees or digest uses and then suddenly poof they'll compete then. Or exploit sellers more

by: Snapped

“ The company said the 11% reduction of the Etsy marketplace workforce would increase its operational efficiencies…”

“ An Etsy moderator responded to seller concerns … writing, "This update will not impact your shop or the level of support you receive from us." “

So…the RIF is going to ‘improve’ things - but nothing’s going to change.  Got it.

Although it’s probably somewhat of a ‘change’ for the affected 11%.  Happy Holidays indeed.

by: Stone Cutter

*** Depop and Reverb ***

“ The company said the 11% reduction of the Etsy marketplace workforce would increase its operational efficiencies…”

Let’s not forget that the company of Etsy also includes their acquisitions in Depop and Reverb.

A reduction of 225 employees within 3 companies may not be as brutal as it sounds.

I hear many companies who report that when they hire too many people to manage it can actually reduce productivity. And for every 5 people hired, another manager needs to be hired.

Sometimes, less is more.

by: CAROLINASGIRL

I was a middle six figure seller with a ton of 5 star feedback, for years.  But etsy decided to start playing games I did not appreciate. I am punished and have to accept their advertising. But.... it never went to something I sold, only to a page of other sellers. I might have been on that page, somewhere.....Then there was the you will answer this email in the time frame we give you or..... star seller..... and that meant what?

Tracking showing delivered? Why am I penalized? Same companies on the front page every time? Why was that?  Finding something in search, hit or miss for me..... I no longer shop there either.

Did it occur to any of these people that run this company we are human beings that sell on etsy? Personally, I felt very mistreated. If you treat your customer right ( we ARE your customer etsy) then you will have the magic formula for sales. We know how to run our companies. ( disclaimer for those that did not, nor did they understand trademarks)

The thinking of giving away things to customers will relate to sales, well, i am one that is not shopping, so that did not work on me. You have to provide a good shopping experience for customers to return. My experience has not been that in a while now. I sold to power hitters all over the us with constant repeat business.


Apparently, in my point of view, etsy did not want that from me. More and more I was hidden in search. We did multiple testing before we closed up. It made no sense to have to keep jumping through all these hoops for basically what ended up being a meager income. We tracked every sale, every month, every year. Each year, we could see the difference. other platforms growing by as much as 22 percent yoy. But not etsy for us. One has to go where they are treated as a seller that is appreciated. Wonder if they ever thought about asking for a sellers thoughts? The etsy cheerleaders are not who they need to ask.

These are all my personal opinions and my personal experience that I am writing about.  

by: Zigmund

I'm on Etsy since 2012. And Not Complaining. Not whining like hundreds of Etsy shop owners did and keep doing. I'm fine with what I'm doing. I don't waste my time on Etsy support forum. I keep adding listings and keep refining old listings.
I'm not making hundreds of thousands and not even thousands. I have weekly sales continuously. I don't care what others do, only pay attention from time to time if there are new ideas from other sellers who sell similar items.
Once upon the time, Etsy support was excellent. But it was  in the first 3-4 years being on Etsy. Support now is at CRITICAL Point. Chat does not work. WHO are people who work in Etsy CHAT ? Obviously they are not in US. And they are useless. SUPPORT for Buyers is probably is probably as BAD.  

by: OhCalcutta

No layoff is not fired

by: OhCalcutta

Instead of off site ad,why not UP the final value fee,at least we know how much it would be.
Etsy FVF is lower than Ebay and AMZN,it leaves room to raise the fee