Etsy CMO departs amid staff cuts

Etsy is reducing its workforce by 11%, or 225 positions, the Brooklyn, New York-based online marketplace said Wednesday, while also announcing the departure of Chief Marketing Officer Ryan Scott. He had been with the company nearly five years and was responsible for award-winning campaigns. In a memo to staff, CEO Josh Silverman described the cuts as necessary to organize “our internal structure to more closely align our resources with our most important business priorities and better serve our customers.” He wrote that the objective is to position Etsy for growth and agility. The cuts appear to align marketing closer with operations. Along with Scott, exits include Kim Seymour, who joined Etsy only last year as chief HR officer, a new position. Marketing will be consolidated under operations with Raina Moskowitz, who had been chief operating officer, taking the new title of chief operating and marketing officer. Etsy’s new marketing strategy comes on the heels of a successful holiday campaign, Etsy’s first with Orchard as its new creative agency. With a catchy tune, the campaign communicates how personalized Etsy presents can be for customers looking to buy the perfect gift for a loved one. Ad Age’s Creativity named it the fourth-best ad of 2023. Last month, Etsy reported a 7% rise in revenue over the year-earlier period to $636.3 million, slightly missing analyst expectations. The company generated net income of $87.9 million, a stark contrast to the year-earlier period’s loss of $963.1 million. At the time of the report, Silverman cautioned that it is a “challenging” shopping environment.

Etsy CMO departs amid staff cuts

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