Blue Apron Plans to Cut 24% of Staff Barely a Month After IPO By Jing Cao August 4, 2017, 11:58 AM EDT Blue Apron Holdings Inc. is cutting almost a quarter of its staff barely a month after its initial public offering as the meal kit delivery company struggles to become a profitable business.
The company is cutting 1,270 jobs from its New Jersey facility according to a public notice Friday. It had 5,202 workers as of March 31.
Last month the company said Chief Operating Officer and co-founder Matt Wadiak is stepping down. Blue Apron has been battered by the public market following a disappointing IPO in June. Its shares have tumbled 37 percent since then.
Submitted August 04, 2017 at 12:51PM by closingbell http://ift.tt/2ubobmX
