Hmm, this statement, "Tobi Lütke, the company’s founder and chief executive, told staff in a memo sent Tuesday that the layoffs are necessary as consumers resume old shopping habits and pull back on the online orders that fueled the company’s recent growth." - sounds a bit bullshitty.
But maybe they expected the pandemic to last for the rest of our lives.
Did you read the article? The CEO admits straight up that he bet on growth, and failed.
The letter is actually very direct, with little PR speak. Generous severance benefits too. As far as layoffs go, it's way more responsible than normal.
Not really. This is the type of statement that would make the stock of the company drop further for the simple reason of being honest, transparent, and truthful.
I don't doubt it. Still strange to hear it. I think a number of the bigger companies tend to hire contractors for these kinds of situations. And the pandemic was/is definitely one of those situations.
But maybe they expected the pandemic to last for the rest of our lives.