DoorDash is cutting about 1,250 jobs, or six per cent of its total workforce, as the food-delivery company sees a slowdown in demand.
Thomson ReutersDoorDash has become just the latest technology company to announce extensive layoffs in recent months.DoorDash went on a hiring spree to cater to a flood of orders from people stuck at home during the height of the pandemic, but a sudden drop in demand from inflation-wary customers has left the company grappling with ballooning costs.
"We were not as rigorous as we should have been in managing our team growth ... That's on me. As a result, operating expenses grew quickly," chief executive Tony Xu said in a memo to employees that was posted on the company's website. "Given how quickly we hired, our operating expenses — if left unabated — would continue to outgrow our revenue."
DoorDash has about 20,000 employees worldwide, including some in Canada. It's not immediately clear how big its Canadian workforce is or how many will be laid off.
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