San Francisco, June 13 (SocialNews.XYZ) US-based online food ordering company Grubhub has announced to lay off about 15 per cent of its workforce, or nearly 400 employees, to maintain "competitiveness" in the market.
"There is no doubt whatsoever that we have a solid foundation in place and an immense opportunity ahead of us -- but it is also clear that we need to make some tough decisions in order to maintain our competitiveness, deliver the best possible service for diners and our other partners, and be successful for the long-term," Howard Migdal, Grubhub CEO, said in a message to employees on Monday.
Explaining the decision to lay off, the company said it's operating and employee costs grew at a higher rate.
"Rightsising the business for where we are now a" which includes ensuring we have the right resources and organisational structure focused on the right priorities - will allow us to be more agile, make bolder bets and take advantage of all of the opportunities on our doorstep," Migdal stated.
Meanwhile, music streaming platform Spotify has laid off 200 employees, 2 per cent of its workforce, from its podcast division as part of a corporate reorganisation.
In January this year, Spotify slashed 6 per cent of its workforce, or about 600 staffers, globally.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz