Instacart cutting 250 jobs as weak sales growth sends shares plunging
CARTMaplebear (CART) New York Post·2024-02-14 06:11

Instacart said Tuesday it plans to cut 250 jobs, or about 7% of its workforce, to focus on “promising” initiatives. However, shares of Instacart, formally known as Maplebear, were down about 10% in extended trading after the company missed fourth-quarter revenue estimates.The grocery-delivery firm joins several US and Canadian firms that have been laying off thousands of employees as they scramble to reduce costs amid an uncertain macroeconomic environment.“This (job cuts) will allow us to reshape the comp ...