Instacart recently announced layoffs that will affect 250 workers, and the cuts will reduce the company’s total workforce by seven percent. The grocery delivery company has experienced decreasing share prices after the company did not meet its expected fourth-quarter earnings. The price of Instacart shares dropped by 10%, and the company fell over a million dollars short of the projected company revenue. The company stated that the layoffs will reduce costs, which will put Instacart in a better position for long-term success. The reduction in staff will change the company’s organizational structure, and the company will be shifting focus to new initiatives. Instacart management predicts that first-quarter earnings will be above projected estimates.
See "Instacart will cut 250 employees after mediocre fourth quarter performance", New York Post, February 14, 2024