The online marketplace is based in New York and has offices in Dublin, London and Mexico City.
Online marketplace Etsy will lay off around 220 people to reduce its headcount by 12pc to a total of around 1,600.
The role reductions will cost the company about $35m in severance and associated costs and will be completed by the end of the third fiscal quarter of the year, according to Etsy.
CEO Kruti Patel Goyal said “most of the changes” would be “concentrated in our product and engineering group”.
“We are changing our structure, with fewer silos to reduce handoffs and flatter, faster teams built to solve broader, more complex problems,” she wrote in a letter to shareholders yesterday (5 August) alongside Etsy’s second-quarter financial results.
