Wayfair CEO Encourages Employees to Work Longer Hours and Be More Frugal

Despite a turbulent year marked by layoffs and a shift in consumer behavior, Wayfair has returned to profitability.

Wayfair CEO Niraj Shah has sent a year-end message to employees encouraging them to work longer hours and blend their work and life, stating that 'there is not a lot of history of laziness being rewarded with success.'
Shah also urged employees to be more frugal, suggesting they should treat company money as their own and negotiate lower costs whenever possible.
Wayfair has had a turbulent year, with a 10% reduction of its workforce in January and further layoffs throughout the year, as part of a larger cost-cutting plan meant to reduce annual expenses by $1.4 billion.
The company's sales surged early in the pandemic but struggled in 2022 as people returned to shopping in person and shifted their spending from physical goods to experiences.
Despite the challenges, Shah noted that Wayfair has returned to profitability and is seeing its market share grow.