Wayfair stock fell Friday morning after the online furniture seller said it was shutting down its business in Germany and cutting a little over 700 jobs in a bid to focus on more profitable growth areas. The business in Germany will be shut down effective immediately, Wayfair said. As part of the restructuring, the company plans to lay off approximately 730 employees in Germany and Poland, although management expects about half of these positions will be relocated to other corporate offices.
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