(Reuters) - Online furniture retailer Wayfair ( W ) said on Friday it would lay off 730 employees as it exits the German market to focus on investments in core businesses.

Shares of the U.S.-based company were up about 4% in premarket trading.

The company has been grappling with slower traffic and weaker demand from cost-conscious consumers who have been putting off higher-margin purchases.

Following the restructuring in Germany, Wayfair ( W ) expects to take charges of about $102 million to $111 million consisting of employee-related costs as well as non-cash charges related to facility closures and other wind-down activities.

These charges are expected to be incurred across the fourth quarter of 2024 and the first quarter of 2025, the company added.

Wayfair ( W ) had about 14,400 employees globally, as of Dec. 31, 2023.

Analysts have noted that Wayfair ( W ) could see challenges from the implementation of President-elect Donald Trump's import tariffs given the company's high exposure to imports and price-sensitive mass market customer base.