Wayfair to Cut Roughly 500 Jobs

Online furniture retailer Wayfair (Boston) plans to cut three percent of its workforce as stocks continue to fall.

These job cuts will include around 350 employees at the Boston headquarters, according to CNBC.

Over the past 12 months, Wayfair stock has dropped 24 percent, with shares falling over 9 percent this Thursday alone.

Public since 2014, the company has faced high costs to run their business, especially in shipping large products, but a spokeswoman told CNBC, “We remain as confident as ever in Wayfair’s future.”