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Instacart Announces Restructuring Strategy

Instacart Announces Restructuring Strategy

Friday, February 23rd, 2024

Instacart’s recently announced restructuring strategy may open the door for expansion in other areas of its operations. The grocery delivery partner announced that it plans to lay off around 250 employees, about 7 percent of its workforce.

According to CNBC, the news comes after Instacart reported its quarter four earnings, during which shares of the company fell 5 percent in extended trading. We learned that the restructuring efforts will involve layoffs of middle management in order to create a flatter organizational structure.

Instacart has plans to lay off around 250 employees, about 7 percent of its workforce

Part of the strategy also includes investments in larger projects, like advertising with Roku, Google Ads, and more. In addition to the layoffs, Chief Operating Officer Asha Sharma, Chief Technology Officer Varouj Chitilian, and Chief Architect JJ Zhuang have decided to depart from the company. Only the CTO role is expected to be backfilled.

Will this strategy make way for more retail partnerships? DMN will surely report.