SAN FRANCISCO, CA - A question has been ringing in our ears this week: Will Instacart’s restructuring strategy position the company for more retail partnerships? We recently learned that the grocery delivery platform has plans to lay off around 250 employees, about 7 percent of its workforce.
According to CNBC, the news comes after Instacart reported its quarter four earnings, during which shares of the company fell 5 percent in extended trading. We learned that the restructuring efforts will involve layoffs of middle management in order to create a flatter organizational structure.
Part of the strategy also includes investments in larger projects, like advertising with Roku, Google Ads, and more. In addition to the layoffs, Chief Operating Officer Asha Sharma, Chief Technology Officer Varouj Chitilian, and Chief Architect JJ Zhuang have decided to depart from the company. Only the CTO role is expected to be backfilled.
While we wait to hear more about Instacart’s restructuring efforts, keep following along with ANUK.
