Money Control Place
  • Politics
  • Business
  • Stocks
  • Investing
  • Politics
  • Business
  • Stocks
  • Investing

Money Control Place

Business

Grubhub lays off 15% of corporate workforce, or about 400 employees

by June 14, 2023
June 14, 2023
Grubhub lays off 15% of corporate workforce, or about 400 employees

Food delivery platform Grubhub laid off about 400 employees, or 15% of its corporate workforce, citing a need to maintain “competitiveness,” the company’s CEO said in a message to employees Monday.

The company has struggled to capture market share, lagging significantly compared with competitors such as Uber Eats and DoorDash, according to research from Bloomberg Second Measure.

Grubhub said it would offer employees a minimum of 16 weeks severance but declined to comment on specific groups or positions that were affected.

“There is no doubt whatsoever that we have a solid foundation in place and an immense opportunity ahead of us — but it is also clear that we need to make some tough decisions in order to maintain our competitiveness, deliver the best possible service for diners and our other partners, and be successful for the long-term,” CEO Howard Migdal said in his memo.

The one-time public company was acquired by the Dutch multinational Just Eat Takeaway.com in 2021. The all-stock transaction valued Grubhub at $7.3 billion.

Less than a year after the deal closed, Just Eat Takeaway said it was exploring the “partial or full sale” of Grubhub. A spokesperson for Grubhub did not immediately respond to a CNBC inquiry about whether the layoffs were connected to a potential sale process.

This post appeared first on NBC NEWS
0
FacebookTwitterGoogle +Pinterest
previous post
Missed the AI Frenzy? Try This Promising Opportunity
next post
Nextech3D.ai AI- IPO Spin-off Toggle3D.ai Approved By The Canadian Securities Exchangeto Trade on Wednesday June 14th Symbol: TGGL

Related Posts

Darden Restaurants sales disappoint as Olive Garden, LongHorn...

March 21, 2025

Tentative deal reached to get UPS drivers air-conditioned...

June 15, 2023

Hermès lawsuit claims luxury retailer reserves its famed...

March 25, 2024

Robinhood CEO sees Amazon-like subscription model as path...

March 29, 2025

Donatella Versace steps down as head of Italian...

March 14, 2025

Google forcing some remote workers to come back...

April 24, 2025

Airports, racing to hire workers, compete to look...

July 31, 2023

House hunting is already tough. Guess what? It’s...

June 30, 2023

As Tesla layoffs continue, here are 600 jobs...

May 18, 2024

More discounts — and pitfalls — await holiday...

November 30, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • S&P 500 Breaking Out Again: What This Means for Your Portfolio

    • Saskatchewan Implements New 3 Percent Lithium Royalty, Provides Clarity to Companies

    • Crypto Market Update: Bitcoin Takes Back Losses, Analysts Predict Price Rally Will Continue

    • CHARBONE Hydrogene complete avec succes le demantelement des equipements d’hydrogene a Quebec et annonce l’arrivee des principales composantes a Sorel-Tracy

    • CHARBONE Hydrogen Successfully Completes the Dismantling of Hydrogen Equipment in Quebec and Announces the Arrival of the Main Components in Sorel-Tracy

    • Predictive Discovery and Robex Merge, Combining West African Gold Projects

    Categories

    • Business (1,396)
    • Investing (3,005)
    • Politics (3,699)
    • Stocks (1,814)
    • Uncategorized (20)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: MoneyControlPlace.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 moneycontrolplace.com | All Rights Reserved