The e-commerce company announced the layoffs, primarily in its product and engineering operations, as a move to streamline its business. Etsy's Chief Executive Kruti Goyal emphasized that the cuts were not driven by cost-cutting initiatives or artificial intelligence. The announcement came as Etsy reported strong quarterly earnings, with revenue up 6% to $668 million and EPS rising to $0.98 from $0.39 year-over-year.