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Etsy sellers go on strike after company raises transaction fees by 30%

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The Etsy Inc. logo is displayed for a photograph on a smartphone next to sewing supplies in Tiskilwa, Illinois, U.S., on Tuesday, Jan.

20, 2015. (Photographer: Daniel Acker/Bloomberg via Getty Images)LOS ANGELES - Etsy sellers are calling on customers and fellow independent retailers that rely on the online marketplace for income to boycott the company following the news of unwelcome transaction fees.

The Verge reported in March that Etsy sellers would be negatively impacted by a 30% increase in transaction fees beginning April 11.

Transaction fees are a percentage Etsy takes from sellers when a sale is made on their online stores. Sellers will have to shell out 6.5% per order from the original 5% of their profits.Sellers struggling with the financial impact of the ongoing COVID-19 pandemic find the fee increase unacceptable, especially since the company’s CEO, Josh Silverman recently reported to investors that sales and revenue had soared to record highs, The Verge reported.

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