Brooklyn’s largest tech company Etsy lays off 15 percent of staff
Brooklyn’s biggest tech company Etsy announced a second round of layoffs on Wednesday, cutting 140 positions, or 15 percent of its staff.
The DUMBO-based business, which was founded in 2005, dismissed an additional 80 people in May to reduce costs.
The most recent round of cuts brings Etsy’s total number of people let go to 230, or 22 percent of the company’s headcount at the end of 2016.
“In order to drive focus, we took decisive steps to double down on the fewest, highest-impact initiatives in our core marketplace while deprioritizing other projects and streamlining our resources,” said Etsy CEO Josh Silverman in a press release.