Grubhub Announces Job Cuts Amidst Strategic Shifts, Trim Workforce by 15% to Stay Competitive
Portfolio Pulse from Lekha Gupta
Grubhub, owned by Just Eat Takeaway.com NV (OTCPK: JTKWY), plans to cut its workforce by 15%, impacting around 400 roles. The move aims to reduce operating and staff expenses to stay competitive. Grubhub recently extended its deal with Amazon (NASDAQ: AMZN) for an additional year.
June 13, 2023 | 1:51 pm
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Just Eat Takeaway.com's Grubhub plans to cut its workforce by 15% to reduce expenses and stay competitive. The company recently extended its deal with Amazon for an additional year.
The job cuts may help Grubhub reduce expenses and stay competitive, which could be positive for Just Eat Takeaway.com. However, the impact of the job cuts on the company's performance is uncertain, leading to a neutral score.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Grubhub extended its deal with Amazon for an additional year, providing a free one-year Grubhub+ offer to Amazon Prime members in the U.S.
The extended deal with Grubhub could be beneficial for Amazon as it adds value to its Prime membership offering. This may lead to increased customer satisfaction and retention, resulting in a positive short-term impact on Amazon's stock.
CONFIDENCE 80
IMPORTANCE 40
RELEVANCE 50