Etsy launches $2 billion buyback and cuts 12% of staff after strong Q2 results

Etsy reported second‑quarter revenue of $668 million and gross merchandise sales of $2.6 billion, up 7.5% year over year. Adjusted EBITDA reached $195 million, a 29.2% margin, prompting the company to raise its full‑year outlook and authorize a $2 billion share repurchase program.

CEO Kruti Patel Goyal announced a restructuring that will eliminate roughly 220 jobs, about 12% of Etsy’s global workforce, bringing headcount down to around 1,600 employees. The cuts target product, engineering, design, research and analytics teams and are intended to streamline operations and accelerate product development. Affected staff will receive at least 16 weeks of severance, extended health benefits and transition assistance. The moves aim to improve marketplace fundamentals, buyer experience and app performance as Etsy focuses on higher‑quality inventory and stronger seller health.