- Richard B. Levine/Zuma PressInstacart is cutting about 250 employees, or roughly 7% of staff, as it focuses on profitability amid heated competition in the grocery-delivery business and rising food costs. Instacart said three executives, including its chief technology officer and chief operating officer, will leave the company for personal reasons. Instacart is the latest tech company to cut staff this year. Instacart commands the U.S. grocery-delivery market, but competition is mounting from rivals , including DoorDash and Uber Technologies’ Uber Eats. Over the same period, Uber shares climbed 49%, DoorDash shares rose 46% and the tech-heavy Nasdaq Composite Index is up 16%.

Source: Wall Street Journal February 14, 2024 13:28 UTC