DoorDash to cut 6% of global workforce
DoorDash Inc. is cutting about 1,250 jobs to rein in expenses, acknowledging that a rapid expansion during the pandemic boom has led to mounting losses. “While our business continues to grow fast, given how quickly we hired, our operating expenses — if left unabated — would continue to outgrow our revenue,” CEO Tony Xu wrote in a letter to staff on Wednesday. The cuts will affect about 6% of the company’s workforce, a mix of U.S. and non-U.S. based staff, according to people familiar with the matter asking not
to be identified as the announcement was not yet public.