Etsy is laying off 225 of its workers after 2 years of 'essentially flat' merchandise sales

• Etsy CEO Josh Silverman told staff on Wednesday that 11% of the company's workers are being laid off.
• Silverman said in an email that Etsy's sales "remained essentially flat since 2021."
• "This is ultimately not a sustainable trajectory and we must change it," Silverman wrote. 

Etsy chief Josh Silverman told staff on Wednesday that the online marketplace operator was laying off more than 200 employees.