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.