Etsy is laying off about 12% of its workforce as it restructures to streamline its business and position for growth, according to multiple reports. The company announces the layoffs alongside its second-quarter earnings results. Etsy’s CEO says the reductions are primarily focused on employees in the product and engineering departments. The move is described as part of a broader effort to reorganize resources and improve operational efficiency. While the specific number of employees affected and the timing of job separations are not detailed in the provided summaries, the outlets agree on the overall scale of the cuts and that the announcement coincides with the company’s quarterly financial update. The reports do not indicate changes to Etsy’s core businesses, but they characterize the restructuring as a response to the company’s current operating priorities and future growth plans. Overall, the coverage is consistent on the layoff proportion and the main functional areas impacted.