Wayfair CEO's Year-End Memo To Staff: Long Hours And Work-Life Blend 'Nothing To Shy Away From'

Online furniture retailer Wayfair Inc’s W CEO and co-founder, Niraj Shah delivered a clear year-end message to the company’s employees: “Working long hours, being responsive, blending work and life, is not anything to shy away from."

What Happened: In a year-end memo to employees to his staff, which was seen by Business Insider, Shah said the need for diligence and a sense of personal stake in company expenditures.

He dispelled any misconceptions about his position on work ethic, “The one I would reference here that I heard was ‘Niraj said that he does not think that we should work late’. I would suggest that this is laughably false.”

Shah began the message by announcing that Wayfair, which reduced its workforce by 5% in 2022, has navigated through its challenges. “We are back to winning,” but tempered the celebration with a reminder that such victories come from sustained effort. “Winning takes hard work."

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Why It Matters: In terms of fiscal responsibility, Shah encouraged employees to treat company funds as if they were their own and to seek out the best possible deals.

Sharing an anecdote about the initially quoted cost of running ethernet cables, he pointed out how questioning the cost turned a quote of “$1,600 a drop” to merely “$300.”

Wayfair reported a loss of $163 million in the third quarter of 2023—an improvement from the $283 million loss of the same quarter in the previous year.

Wayfair stock saw a decline of 1.57% on Friday, closing at $67, according to data from Benzinga Pro.

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