Wasn’t sure which board to post this on, but just saw this news on CNBC. It doesn’t bode well:

https://www.cnbc.com/2023/12/13/etsy-laying-off-11percent-of-staff-citing-competitive-environment.html

 

Re: Uh-oh…Etsy cuts workforce 11%

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My sense has been that the etsy platform has been in decline for some time. It began when they went public and has not been the same as my early happy days

Here's to a better year ahead...

Alethia 

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Re: Uh-oh…Etsy cuts workforce 11%

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@FortnersFinds

Yeah, when Etsy announced that it would go public and many sellers got excited, I cautioned them because now the stockholders would become the most important group, pushing sellers farther down the chain.

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PandPF
Crafty Poster

Re: Uh-oh…Etsy cuts workforce 11%

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I have to agree though I have been doing fairly well till this summer.  The holiday is not like any other in my 25 years selling online.  And Etsy is really hurting with the 12% advertising fee.  

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MurphyGardens
Community Manager
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Re: Uh-oh…Etsy cuts workforce 11%

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Hi everyone - jumping in to acknowledge and confirm that Etsy did announce changes today to our internal structure so that we are able to double down on growth initiatives and better support you–our seller community. I encourage you to read the email that our CEO Josh Silverman shared with Etsy employees. Unfortunately, this means we are parting ways with some of our colleagues. While this is sad news, please know that we are as committed as ever to serving you. This update will not impact your shop or the level of support you receive from us.

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Re: Uh-oh…Etsy cuts workforce 11%

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..."This update will not impact your shop or the level of support you receive from us."

In other words, we will continue with NO support for sellers.

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Re: Uh-oh…Etsy cuts workforce 11%

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Forgive me, but we're already NOT receiving support from Etsy.

In my case, after recently selling units of four of my best selling products, each one of them was subsequently deactivated by Etsy. No warning, no communication, not a single word uttered to explain what may have possibly prompted such action. I've been doing my level best to contact Etsy over the course of the past 4+ days (Etsy support, tweeting, email, etc) to try and understand what, if anything, may have prompted such action, all to no avail.

In the case of these listings, they all pertain to my Persian culture: art prints all of my own IP, designed to appeal to a segment of my customer base consisting of those who value/appreciate Persian culture.

I'm left no choice but to think that this is a discriminatory measure since as a test, an additional listing also related to the Persian culture was generated and instantly deactivated. Yet, a listing pertaining to Marie Antoinette was added and published successfully.

This is all conjecture on my part since there has been ZERO communication by Etsy to contact me, a Star Seller, with nothing but 5 star reviews, who works diligently to provide the best customer service experience possible to those who patronize my shop. I've not only represented my own brand very well, but have done right by Etsy as a responsible seller with integrity.

So, in summary, what I've outlined above is a small sample of the kind of circumstances up until NOW when Etsy *had* a staff of over 2k heads available. Now, with 89% of that level of employees remaining, we are left to believe that you will be MORE successful at fielding the inquiries and needs of your "7M" sellers, as indicated by your CEO in his own email? To believe something along these lines would be completely illogical. It's quite obvious that the dismal conditions will only deteriorate more rapidly as a result of the staffing change.

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Amaradorn
Community Maker

Re: Uh-oh…Etsy cuts workforce 11%

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@iTraveliSeeiShoot did your removed listings contain the word 'Iran'?

It's probably best if you start a new thread to discuss your listing issues - then we can focus on your specific problem.

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APrints
Crafty Poster

Re: Uh-oh…Etsy cuts workforce 11%

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BS! Etsy knew in the beginning of the year about the vast amount of counterfeit goods on the marketplace. And yet they did NOTHING! I have tried to get dozens of obvious counterfeit goods removed. Not a single one was removed. The amount of eBooks stolen from Amazon is in the 1,000's. Silverman needs to go if Etsy is to survive. 

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Re: Uh-oh…Etsy cuts workforce 11%

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Got a good chuckle out of the "level of support you receive from us" comment! 

You do realize that there is literally NO support for any seller from etsy. It's impossible to reach an actual person. 

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Re: Uh-oh…Etsy cuts workforce 11%

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Etsy has never been committed to serving the sellers. Its all about making money for the shareholders so I have no interest in anything silverman has to say. Buyers open cases and you close them without consulting the sellers, you take money for Ads which is always at the maximum and yet the views are low. You push the small sellers to the bottom of the search and you have allowed manufactured goods onto a handmade site. Sorry its too late now with your promises.

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Re: Uh-oh…Etsy cuts workforce 11%

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Josh Silverman wants to turn Etsy into Ebay v2. 

From his changes in what is considered hand made to his lame attempts to create a bid system in etsy. 

I'm sure he is vary good for stock prices, but he is horrific to sellers. 

He views closed shops as "churn"  when the reality is closed shops are shattered dreams, are someones livelihood.  

But hey, im sure all the random Chinese scrap showing up as handmade makes him millions so I guess all that churn is worth it.

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Re: Uh-oh…Etsy cuts workforce 11%

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If Etsy hadn't allowed counterfeit and resellers you probably wouldn't have to be parting ways with your colleagues.

 

Etsy need to take a serious look at the way they do business.

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Re: Uh-oh…Etsy cuts workforce 11%

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It doesn't look like buyer protection (or star seller)  will go away any time soon

 we have identified our “Vital Few” projects and initiatives that we believe will reignite growth for our sellers and drive buyer consideration and loyalty through a focus on quality, value, and reliability.

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nineteen27
Community Maker

Re: Uh-oh…Etsy cuts workforce 11%

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how did they identify them?

through AI?

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Re: Uh-oh…Etsy cuts workforce 11%

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nah, the good old fashioned, throw a dart at a board of post-its

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digitaldoodlebug
Conversation Maker

Re: Uh-oh…Etsy cuts workforce 11%

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Very true. They can track all of it and account for it. Besides, they already have it paid for with increased seller fees. Buyer retention is vital to a site. And to get that you need buyer trust. A side affect is a small amount of people abusing the system. I would just not sell anything over $250 here. 

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Re: Uh-oh…Etsy cuts workforce 11%

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What does this even mean? The whole thing is just so vague…exactly how will these “vital few” projects “reignite growth”? Or “drive buyer consideration”? And exactly what IS buyer consideration? Top of mind recognition? Or is it monetary consideration? The devil is in the details, Etsy. Fewer generalities/less corporate speak and more plain specific language please.

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Re: Uh-oh…Etsy cuts workforce 11%

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I wonder if this is why they were having those everlasting cybersales, to gage who and how high of a discount sellers were prepared to give.

it fees are 6.5% + 4% and sellers where also giving 25%+ discounts on top of this, they sure have a good window to play with

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Re: Uh-oh…Etsy cuts workforce 11%

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Hi @Amaradorn - Thank you for your message. The listings that I cited in my message did have the tag "Iran" in them and despite removing all such references from the deactivated listings, their status has not changed. At the same time, there are other items in the dedicated "Persian Art & Culture" section of my shop which are active and which do still have the tag "Iran" associated with them, but they have not been deactivated. I still haven't rec'd any comms from Etsy about what prompted the deactivation but after some research on YT and elsewhere online, I'm starting to think that the deactivation of my listings may be connected to the fact that Etsy is broadening its policy for its sellers to have unique thumbnail photos to distinguish Etsy items from similar (or exact) products online. My research has indicated that the AI bots scan an image pixel for pixel and if the analysis yields a significantly high number of pixels that are identical between those on Etsy and those on other parts of the web, they'll flag a listing's image. What's exhausting about this is that sellers have to constantly jump thru hoops in order to keep the Etsy gods satisfied. In any event, thanks for your keen observations. Much appreciated.

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nineteen27
Community Maker

Re: Uh-oh…Etsy cuts workforce 11%

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Etsy’s layoffs will cost between $25 million to $30 million, the bulk of which will be used for severance payments, employee benefits and other related costs.

They’ll receive severance of 16 weeks of base pay, plus one week for each full year of service, along with other benefits like extended COBRA health insurance benefits and the ability to keep their company laptop.

etsy is an amazing company to work for.

even when they lay you off.

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PWOriginals
Conversation Maker

Re: Uh-oh…Etsy cuts workforce 11%

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I agree!

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Re: Uh-oh…Etsy cuts workforce 11%

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In addition that almost 10% is applied to different sellers differently. Have shipping over a pound? Or heaven forbid more or oversized? You get higher fees. The ones it doesn't hurt are those buying reseller items for pennies and selling them for $30 "free shipping". Of COURSE you can afford to give 25% off! I have added a return buyer code of 10% in all my shops just to try to retain repeat customers. 20%+ already in fees and discounts in those sales...some more!

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Re: Uh-oh…Etsy cuts workforce 11%

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How are they going to cover those amazing benefits? Oh, that’s right; they’ll likely raise our fees next year…

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Re: Uh-oh…Etsy cuts workforce 11%

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@MirageRiverCreations "How are they going to cover those amazing benefits?" Those benefits are far less than Etsy makes in actual profit each quarter, so it's hardly an issue. Then after that, they save all the money they would usually pay out in salary and benefits, so more profit. Etsy isn't broke; they are just greedy. 

And those layoff benefits are fairly standard for the industry, not amazing. Also, don't forget the people fired were in different countries, where there are different layoff requirements than in the US. I've been tracking the laid off on LinkedIn, and some are actually being underpaid by Canadian common law standards considering the length of time they worked at Etsy and their job status (but admittedly, I haven't found any Canadians laid off yet - it's more an example of how these things differ across jurisdictions)

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Re: Uh-oh…Etsy cuts workforce 11%

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There will definitely be different laws in different places.

In the UK, if you lay off more than 20 people they need to have a collective 90 day consultation, before they can start to make any redundancies, so not sure of the numbers here..... They may just go under the number, to keep legal

 

 

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