May 3, 2017

Etsy chief executive quits after quarterly loss

Chad Dickerson, who was also chairman, will be replaced by former eBay executive Josh Silverman. Etsy made an unexpected loss of $421,000 in the first three months of 2017 - having earned $1.2m a year earlier. It also announced it was cutting 80 jobs - or about 8% of its workforce. Etsy shares fell 17% in after-hours US trade after the announcements. Etsy listed on the Nasdaq in 2015 after becoming known as the eBay for artisanal and handcrafted items.

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