Instacart to lay off 250 employees, or about 7% of the company, as part of restructuring
Publishing timestamp: 2024-02-13 21:12:00
Summary
Instacart announces layoffs of 250 employees, about 7% of the company, as part of restructuring. Fourth-quarter earnings fell in line with estimates. Shares fell 5% in extended trading. Three top executives are departing for personal reasons. Company plans to focus on larger projects and advertising efforts.
Sentiment: NEGATIVE
Tickers: UNDEFINED,
Keywords: business news, artificial intelligence, layoffs, generative ai, instacart (maplebear inc), technology, breaking news: technology,