Noesion Radarnoesion.ai
Market2026-08-05

Etsy said it will lay off about 220 people, roughly 12% of its workforce, in a shareholder letter published Wednesday, Aug. 5, 2026. CEO Kruti Patel Goyal, who took over at the start of 2026, told employees in a memo that neither cost cuts nor artificial intelligence drove the decision, describing it instead as a restructuring toward "fewer silos" and "flatter, faster teams," while adding that "AI is changing how all of us work." Etsy reported Q2 revenue growth above 6% excluding Depop, which it sold to eBay, and swung from nearly $29 million in net income a year earlier to a net loss of $46.7 million; gross merchandise sales rose 1% excluding Depop. Bank of America analysts Michael McGovern and Justin Post called Etsy's ChatGPT app, live in beta since May, the "most idiosyncratic swing factor" for the company.

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