Food-delivery platform Grubhub laid off around 400 employees, or 15% of its corporate workforce, citing a need to maintain "competitiveness," the company's CEO said in a message to employees Monday.
Grubhub said it would offer employees a minimum of 16 weeks severance but declined to comment on specific groups or positions that were impacted.
The one-time public company was acquired by the Dutch multinational Just Eat Takeaway.com in 2021.
Less than a year after the deal closed, Just Eat Takeaway said it was exploring the "partial or full sale" of Grubhub.
A spokesperson for Grubhub did not immediately respond to a CNBC inquiry about whether the layoffs were connected to a potential sale process.
Persons:
Uber, Grubhub, Howard Migdal
Organizations:
Bloomberg, CNBC
Locations:
Dutch