https://techcrunch.com/2022/11/30/doordash-lays-off-1250-employees-to-rein-in-operating-expenses/

DoorDash is laying off 1,250 people in an effort to rein in costs, the company’s CEO Tony Xu said in a message to employees on Wednesday. Xu’s message notes that the pandemic presented unprecedented opportunities to serve merchants and consumers, and as a result, DoorDash sped up hiring to catch up with growth. Xu says although most of the company’s investments are paying off, it did not properly manage team growth.

“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,” Xu wrote. “That’s on me. As a result, operating expenses grew quickly.”