• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Editor's Pick Grubhub lays off 15% of corporate workforce, or about 400 employees
Editor's Pick

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

by June 14, 2023
by June 14, 2023 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

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
You Might Also Like
  • Walmart workers are getting raises
  • Scientists Plan to Stop Livestock Diseases and Cattle Theft with 7 Million 5G-IoT Devices Connected to Satellite Constellation
  • Dow falls 600 points in worst day of 2024 as Nvidia’s blockbuster earnings fail to lift broader market
  • Trial of former FTX head Sam Bankman-Fried set to begin Tuesday
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Judge once again considers court takeover of NYC’s embattled Rikers Island
next post
GM to invest $632 million to produce next-generation pickups in Indiana

You may also like

Supreme Court declines to hear case challenging FDA authority to...

October 12, 2023

How is the IoT being used in the gambling industry...

January 17, 2023

Walmart hikes its outlook again as shoppers spend more outside...

November 20, 2024

First Republic’s stock sinks as analysts monitor banking sector stress,...

April 27, 2023

Honda recalls more than 330,000 vehicles due to mirror issue

March 30, 2023

PacWest falls more than 20% as regional bank stocks slide...

May 4, 2023

Federal Reserve says it may stop interest rate hikes as...

May 4, 2023

Three Mile Island nuclear plant to help power Microsoft’s data-center...

September 20, 2024

Pod Group, SODAQ, and Lufthansa Industry Solutions launch the first...

January 4, 2023

How a U.S. debt default would affect American households

May 5, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


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

    Recent Posts

    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right Now

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025
    • Run Your Stock Portfolio Like a Pro Sports Team

      May 30, 2025
    • U.S. foreign tax bill sends jitters across Wall Street

      May 30, 2025
    • Amazon taps Xbox co-founder to lead new team developing ‘breakthrough’ consumer products

      May 30, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,765 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,472 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,451 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,432 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,308 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,581)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right...

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025
    • Run Your Stock Portfolio Like a Pro Sports Team

      May 30, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,581)

    Disclaimer: RoundTableThoughts.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 © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    GM to end production of electric...

    April 27, 2023

    Trump Media in reported talks to...

    November 19, 2024

    Streaming has surpassed cable as America’s...

    July 21, 2023
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here