FILE PHOTO: A delivery person for Doordash rides his bike in the rain during the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, U.S., November 13, 2020. REUTERS/Carlo Allegri/File Photo
DoorDash Inc. DASH 9.21%increase; green up pointing triangle said it is laying off around 1,250 people just weeks after offering a bullish outlook for its food-delivery business, extending a run of tech companies that have abruptly reversed course on hiring in recent months after blistering growth during the pandemic.
Chief Executive Tony Xu said the cuts, equivalent to 6% of DoorDash employees, were the most difficult announcement in the company’s close to 10-year history.
“We too are not immune to the external challenges and growth has tapered vs our pandemic growth rates,” he wrote in a memo to employees Wednesday.
Source: The Wall Street Journal
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