DoorDash is eliminating about 1,250 corporate jobs, or about 6% of its workforce, saying it hired too many people when delivery demand surged during the COVID-19 pandemic.
The company is seeking to lower its operating costs, Xu said, but it was unable to bring spending in line without job cuts.
DoorDash said early this month that revenue rose 33% to $1.7 billion in the third quarter, but costs also ballooned and it almost tripled its losses from $101 million during the same period last year, to $296 million in 2022.
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