was the most prominent company to cut staff when it laid off 10 per cent of its staff on July 26 after a bet on continuous e-commerce growth failed to pay off.Advertisement 4Chief executive Tobi Lütke said the company expected the surge it saw at the height of the pandemic to be permanent and thought they had to expand to keep pace. Instead, growth has since fallen back to pre-COVID trendlines as consumers now return to shopping at physical retail stores.
“Ultimately, placing this bet was my call to make and I got this wrong. Now, we have to adjust,” Lütke said.In a post on Article’s website, co-founder and chief executive Aamir Baig said the company was operating “at a size larger than current demand would sustain” and needed to resize the business. “Like many eCommerce companies, we benefited tremendously from the demand increase from COVID. We anticipated the trend to online purchasing would be sustained — that did not happen, and it has since returned to pre-COVID trends,” he said.Article content
So we don't need more immigration, and certainly don't need the expanded 500K/year Trudeau wants?
Try working at Mariposa Dairy in Lindsay, On.... the worst possible place to work... Abuse employee's, forced to work long hours, few breaks, owner is a racist.. The owners son works for the Ministry, so the Ministry will not act on complaints
इंडिया ताज़ा खबर, इंडिया मुख्य बातें
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