Online furniture retailer Wayfair to cut 1,650 jobs to trim costs

The company's shares rose about 8% in premarket trade as Wayfair said that the latest job cuts would result in annualized cost savings of more than $280 million. Last year, Wayfair had said it would cut 1,750 jobs, or about 10% of its workforce. The company had a global workforce of about 17,505 employees as of the end of 2022, according to a 2023 proxy statement.