As Toast Trims Staff and Growth Slows, Subscription Revenues Gain 49%
TOSTToast(TOST) PYMNTS·2024-02-16 10:39

Toast’s latest quarterly earnings were marked by the announcement of a 10% headcount reduction, even as subscription revenues increased but growth across some metrics slowed. As reported Thursday (Feb. 15) after the markets closed, the company said it was trimming 550 positions. CEO Aman Narang said on the call that staffing cuts came because the company grew its team “too quickly” in some areas. Investors sent the shares 1% higher after hours. Delving into the company’s results, the CEO said the company ad ...