It’s been a rocky few months for Blue Apron ever since it made its public debut in the market this year.
The company announced this week that it will be slashing 6% of its workforce which means hundreds of jobs will be on the line.
The company’s CEO Matt Salzberg wrote in a letter to employees, “The actions that we took today flowed from the roadmapping and reprioritization exercise that we recently undertook. As part of that work, we identified the need to reduce some roles, open others, and streamline decision making for greater accountability. Wherever possible, we sought to fill new roles with existing employees.”
As of June, the company had 5,400 employees. Cutting 6% of this amount would mean roughly over 300 job losses.
According to Blue Apron, doing the job cuts will cost the company money with around $3.5 million in severance costs.
Corporate office positions as well as warehouse positions are at stake.
Disclaimer: We have no position in Blue Apron (NYSE: APRN) and have not been compensated for this article.