Food-delivery platform DoorDash becomes the latest technology company to admit that it grew expenses too rapidly for the current climate
Food-delivery platform DoorDash Inc. plans to lay off about 1,250 employees, becoming the latest technology company to admit that it grew expenses too rapidly for the current climate.
Xu said he was “truly sorry” for the move and that he expected it to “come as a shock, especially because our business remains strong and continues to grow.” “Most of our investments are paying off, and while we’ve always been disciplined in how we have managed our business and operational metrics, we were not as rigorous as we should have been in managing our team growth,” he said in the post. “That’s on me. As a result, operating expenses grew quickly.”Xu also pointed to the economic environment as he sought to explain the cuts.
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