(Reuters) – Grubhub CEO Howard Migdal said on Friday that the food delivery firm has decided to cut about 500 jobs, as it focuses on aligning its business with Wonder after the takeover was completed last month.
Grubhub was bought last year by a food delivery startup Wonder, led by Walmart’s former executive Marc Lore.
As of 2024, Grubhub had more than 2,200 full-time employees. The layoffs represent more than 20% of the company’s workforce.
Earlier, Grubhub was owned by Europe’s biggest meal delivery firm Just Eat Takeaway, which sold its U.S. unit for $650 million after two years of looking to offload the business.
After grappling with slowing growth and high taxes, the Amsterdam-listed company sold Grubhub at a steep loss compared to the billions it paid a few years prior.
Grubhub, last month, partnered with autonomous technology startup Avride to deploy its robots for deliveries on college campuses across the U.S. in an attempt to address labor shortages and reduce dependence on cars.
(Reporting by Anuja Bharat Mistry in Bengaluru; Editing by Alan Barona)
Comments