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Instacart cuts staff, curbs hiring before IPO, The Information reports

(Reuters) - Grocery delivery app Instacart Inc has been letting go staff, slowing hiring and curbing other expenses as it heads toward a public listing, the Information reported...
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Instacart cuts staff, curbs hiring before IPO, The Information reports © Reuters. FILE PHOTO: Smartphone with displayed Instacart logo is seen in this illustration taken March 25, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) - Grocery delivery app Instacart Inc has been letting go staff, slowing hiring and curbing other expenses as it heads toward a public listing, the Information reported on Saturday, citing people familiar with the matter.

Instacart in May said it had confidentially filed with the U.S. securities regulator to go public, not long after slashing its valuation by 40% to about $24 billion following market turbulence.

The San Francisco startup over the last two months has fired some of its more than 3,000 workers after holding mid-year performance reviews, according to the report.

The report added that Instacart has fired at least three senior-level employees in recent weeks but it does not include any departures from the company's top management positions.

The Grocery delivery app in July said its founder Apoorva Mehta would step down from his role as chairman and leave the company once it goes public.

Instacart also paused hiring for various positions and managers received instructions to cap spending in areas such as travel and team gatherings, the report said.

Instacart declined to comment on the report when contacted by Reuters.

Earlier this week the Wall Street Journal reported the firm plans to focus on the sale of employees' shares in its U.S. initial public offering and does not intend to raise much capital for the company.

The development comes as technology companies, crypto exchanges and financial firms cut jobs and slow hiring amid higher interest rates, red-hot inflation and an energy crisis in Europe.

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31-03-2024 10:19:50 (UTC+7)

EUR/USD

1.0793

+0.0006 (+0.06%)

Summary

Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (5)

EUR/USD

1.0793

+0.0006 (+0.06%)

Summary

Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

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Sell (5)

GBP/USD

1.2624

+0.0002 (+0.02%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

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Sell (6)

USD/JPY

151.38

0.01 (0.00%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (5)

Sell (1)

AUD/USD

0.6522

+0.0007 (+0.11%)

Summary

Sell

Moving Avg:

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Indicators:

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USD/CAD

1.3543

+0.0006 (+0.04%)

Summary

Buy

Moving Avg:

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EUR/JPY

163.37

+0.12 (+0.07%)

Summary

↑ Sell

Moving Avg:

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Indicators:

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EUR/CHF

0.9738

+0.0010 (+0.10%)

Summary

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Gold Futures

2,254.80

42.10 (1.90%)

Summary

Buy

Moving Avg:

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Indicators:

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Silver Futures

25.100

+0.002 (+0.01%)

Summary

↑ Buy

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Copper Futures

4.0115

-0.0003 (-0.01%)

Summary

↑ Buy

Moving Avg:

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Crude Oil WTI Futures

83.11

+1.76 (+2.16%)

Summary

↑ Buy

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Brent Oil Futures

86.99

+0.04 (+0.05%)

Summary

Neutral

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Natural Gas Futures

1.752

+0.034 (+1.98%)

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US Coffee C Futures

188.53

-2.12 (-1.11%)

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↑ Sell

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Indicators:

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Sell (9)

Euro Stoxx 50

5,082.85

+1.11 (+0.02%)

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↑ Sell

Moving Avg:

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Sell (12)

Indicators:

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Sell (6)

S&P 500

5,254.35

+5.86 (+0.11%)

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Sell (11)

Indicators:

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DAX

18,504.51

+27.42 (+0.15%)

Summary

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Sell (0)

FTSE 100

7,952.62

+20.64 (+0.26%)

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Sell (10)

Hang Seng

16,541.42

0.00 (0.00%)

Summary

Neutral

Moving Avg:

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Sell (12)

Indicators:

Buy (3)

Sell (1)

US Small Cap 2000

2,120.15

+5.80 (+0.27%)

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Neutral

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Sell (4)

IBEX 35

11,074.60

-36.70 (-0.33%)

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↑ Sell

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Sell (5)

BASF SE NA O.N.

52.930

-0.320 (-0.60%)

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↑ Buy

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Sell (1)

Bayer AG NA

28.43

+0.01 (+0.04%)

Summary

Buy

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Allianz SE VNA O.N.

277.80

+0.35 (+0.13%)

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↑ Buy

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Adidas AG

207.00

+2.30 (+1.12%)

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Deutsche Lufthansa AG

7.281

+0.104 (+1.45%)

Summary

↑ Sell

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Siemens AG Class N

176.96

+0.04 (+0.02%)

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Deutsche Bank AG

14.582

-0.030 (-0.21%)

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 EUR/USD1.0793Sell
 GBP/USD1.2624Sell
 USD/JPY151.38↑ Buy
 AUD/USD0.6522Sell
 USD/CAD1.3543Buy
 EUR/JPY163.37↑ Sell
 EUR/CHF0.9738↑ Buy
 Gold2,254.80Buy
 Silver25.100↑ Buy
 Copper4.0115↑ Buy
 Crude Oil WTI83.11↑ Buy
 Brent Oil86.99Neutral
 Natural Gas1.752↑ Sell
 US Coffee C188.53↑ Sell
 Euro Stoxx 505,082.85↑ Sell
 S&P 5005,254.35↑ Sell
 DAX18,504.51↑ Buy
 FTSE 1007,952.62↑ Sell
 Hang Seng16,541.42Neutral
 Small Cap 20002,120.15Neutral
 IBEX 3511,074.60↑ Sell
 BASF52.930↑ Buy
 Bayer28.43Buy
 Allianz277.80↑ Buy
 Adidas207.00↑ Buy
 Lufthansa7.281↑ Sell
 Siemens AG176.96↑ Buy
 Deutsche Bank AG14.582↑ Buy
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SJC Eximbank7,910/ 8,080
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Cập nhật 31-03-2024 10:19:52
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$2,232.75-1.61-0.07%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V24.69025.180
RON 95-III24.28024.760
E5 RON 92-II23.21023.670
DO 0.05S21.01021.430
DO 0,001S-V21.64022.070
Dầu hỏa 2-K21.26021.680
ↂ Giá dầu thô thế giới
WTI$82.82+5.390.07%
Brent$86.82+5.180.06%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD24.600,0024.970,00
EUR26.020,0327.447,78
GBP30.490,4131.787,64
JPY158,93168,22
KRW15,9119,28
Cập nhật lúc 10:12:31 31/03/2024
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