Etsy announced Wednesday the elimination of approximately 220 positions, representing about 12% of its workforce, primarily affecting its product and engineering teams. These reductions, announced alongside second-quarter results, are not driven by cost-cutting measures or artificial intelligence, but aim to capitalize on current momentum and accelerate innovation. In the second quarter, revenue reached $668.3 million, exceeding analysts’ expectations of $649.1 million, with 9.3% growth in the core marketplace. The company also raised its annual forecast for gross merchandise volume, now anticipating mid-single-digit growth, up from the previous low-single-digit projection.
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