---
schema_version: "secwatch.filing_event.v1"
accession: "0001370637-23-000091"
form_type: "8-K"
ticker: "ETSY"
cik: "0001370637"
company_name: "ETSY INC"
filed_at: "2023-12-13T23:59:59+00:00"
generated_at: "2026-06-07T13:22:10.126217+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Etsy cuts ~11% of workforce (225 roles), CMO and CHRO depart; Q4 guidance: GMS down 1-2%, rev up 2-3%

## Summary
- Restructuring plan approved Dec 12, 2023; ~225 employees (~11% of marketplace workforce) eliminated.
- Estimated restructuring charges of $25M–$30M, primarily in Q4 2023; execution substantially complete by Q1 2024.
- CMO Ryan Scott and CHRO Kimaria Seymour depart Dec 31; Raina Moskowitz becomes COO & CMO; Toni Thompson becomes CHRO.
- Q4 2023 guidance: GMS decline ~(2)% to (1)%, revenue growth ~2% to 3%, adjusted EBITDA margin ~27% to 28%.
- Restructuring expected to deliver operational efficiencies and cost savings; core headcount returning to early 2022 levels (~1,770).

## SEC filing metadata
- accession: 0001370637-23-000091
- form_type: 8-K
- ticker: ETSY
- cik: 0001370637
- company_name: ETSY INC
- filed_at: 2023-12-13T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.05, 5.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1370637/000137063723000091/0001370637-23-000091-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1370637/000137063723000091/etsy-20231212.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001370637-23-000091
- JSON: https://secwatch.observer/filing/0001370637-23-000091.json
- Plain text: https://secwatch.observer/filing/0001370637-23-000091.txt

## Key facts
- Executive change
  Raina Moskowitz changed role as Chief Operating and Marketing Officer at ETSY INC.
  - Action: assumed title
  - Role: Chief Operating and Marketing Officer
  source text: Raina Moskowitz, formerly Chief Operating Officer, will assume the title of Chief Operating and Marketing Officer, responsible for driving global growth by expanding brand consideration and deepening customer trust and loyalty.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1370637/000137063723000091/0001370637-23-000091-index.htm
- Executive change
  Ryan Scott departed as Chief Marketing Officer at ETSY INC.
  - Action: departed
  - Role: Chief Marketing Officer
  source text: In connection with the Restructuring Plan, Etsy announced the departure of Ryan Scott, Chief Marketing Officer, effective December 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1370637/000137063723000091/0001370637-23-000091-index.htm
- Restructurings & Charges
  ETSY INC announced a restructuring with charges of approximately $25 million to $30 million in charges affecting Etsy marketplace (approximately 225 employees).
  - Type: restructuring
  - Charge: approximately $25 million to $30 million in charges
  - Affected area: Etsy marketplace
  - Headcount: approximately 225 employees
  source text: cost savings and/or cost avoidance, particularly related to compensation and benefits. In connection with the Restructuring Plan, Etsy estimates that it will incur approximately $25 million to $30 million in charges, largely made up of cash expenditures, consisting of severance payments, employee benefits, and related costs. Etsy expects that the charges will be
  evidence_url: https://www.sec.gov/Archives/edgar/data/1370637/000137063723000091/0001370637-23-000091-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.