As part of a reorganisation plan, the US-based grocery delivery firm Instacart has announced that it will lay off about 250 workers, or 7 per cent of its global workforce.
The announcement was made as the business released fourth-quarter profits that were essentially consistent with revenue forecasts from analysts.
As part of the restructuring plan, the company anticipates non-recurring spending of $19 to $24 million, the majority of which will be for cash expenditures for employee benefits, severance payments, and staff transfers.
About 250 people, or 7% of the company’s global employment as of January 31, 2024, will be let go as part of the restructuring plan; the majority of these layoffs are anticipated to take place by March 31, 2024.
The layoffs, according to Instacart, are intended to focus teams on large projects like Google Ads and Roku advertising, among others, and to create a flatter organizational structure.
The company has been informed by Asha Sharma, the Chief Operating Officer (COO), that she will be leaving on March 1, 2024. As of right now, the company has no intentions to appoint or hire a new COO.
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