# E-commerce Industry Braces for Layoffs

February 6, 2024

2023 was a devastating year for tech industry layoffs. Though we’re only two months into 2024, it looks like it could bring more of the same.

The tech industry faced a shocking number of layoffs in 2023. According to some reports, over 1,000 tech companies laid off over a quarter of a million workers.

The ecommerce sector has also been affected. According to a [report](https://www.retaildive.com/news/retail-layoffs-amazon-allbirds-walmart/695127/) by Cara Salpini of _Retail Dive_, nearly 50 major retailers, including [Amazon](/content/integrations/amazon/index.html), announced layoffs in 2023.

Unfortunately, we’re not out of the woods yet, and more layoffs have been announced for 2024. Some of the biggest cuts so far include:

- [Wayfair](/content/integrations/wayfair/index.html) plans to lay off over 1,650 workers (Gabe Hauari and Mike Snider, [_USA Today_](https://eu.usatoday.com/story/money/2024/01/19/wayfair-layoffs-2024/72280132007/)).
- [eBay](/content/integrations/ebay/index.html) will cut 9% of its workforce, REI will cut 357 roles, and Macy’s will close five stores and lay off over 2,000 employees (Katishi Maake, [_Retail Brew_](https://www.retailbrew.com/stories/2024/02/02/ebay-rei-and-macy-s-among-retailers-slashing-their-workforces)).
- Ecommerce and fintech company Bolt announced it would cut 29% of its staff ( [_Economic Times_](https://bfsi.economictimes.indiatimes.com/news/fintech/ecommerce-and-fintech-firm-bolt-lays-off-29-of-staff/106036557)).

Layoffs are usually announced at the beginning of the year, so we could see more as 2024 progresses.

According to an [article](https://www.statista.com/topics/9771/layoffs-in-e-commerce/#topicOverview) by Daniela Coppola of _Statista_, “E-commerce job losses primarily involve logistics workers.”

Coppola added, “Higher automation and widespread use of artificial intelligence ( [AI](/content/blog/how-to-use-ai-tools-like-chatgpt-in-e-commerce/index.html)) will affect the job market of white-collar workers, too.”

Other major factors include the reopening of [brick-and-mortar](/content/blog/ecommerce-strategy-for-brick-and-mortar-businesses/index.html) stores after the pandemic and the adverse economic situation in North America and Europe.

However, not all ecommerce companies are struggling.

_LeadGenius_ analyzed over 2,000 companies and found that some ecommerce companies are reversing the trend and are hiring instead. So, the ecommerce landscape is not entirely bleak.