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

Wayfair, an early e-commerce disruptor, wants to focus more on physical retail and has decided to exit the German market and cut 730 jobs as a result.

Wayfair stock fell Friday morning after the online furniture seller said it was shutting down its business in Germany and cutting a little over 700 jobs in a bid to focus on more profitable growth areas.

Budget-furniture seller Wayfair (W) is shifting its focus toward physical retail stores and North American markets as it cuts over 700 jobs and exits Germany.