Instacart said Tuesday it plans to cut 250 jobs, or about 7% of its workforce, to focus on “promising” initiatives. However, shares of Instacart, formally known as Maplebear, were down about 10% in extended trading after the company missed fourth-quarter revenue estimates.The grocery-delivery firm joins several US and Canadian firms that have been laying off thousands of employees as they scramble to reduce costs amid an uncertain macroeconomic environment.“This (job cuts) will allow us to reshape the comp ...

Grocery-delivery giant Instacart announced today that it’s laying off around 250 employees, or roughly 7% of its global workforce, as part of a restructuring. Instacart CEO Fidji Simo said in a letter to investors that the layoffs will allow the company to streamline how it operates. The company announced the layoffs alongside the release of its fourth-quarter earnings.“Today, we made the tough decision to part with approximately 250 of our talented team members,” Simo wrote in the letter. “This will allow ...

Maplebear Inc. CART, +1.72% — the company better known as the grocery-delivery platform Instacart — said on Tuesday that it was laying off around 250 people, or around 7% of its staff, and announced the resignation of its chief operating officer. The announcement came after a fourth quarter in which sales came up short of estimates. However, the company forecast first-quarter gross transaction value — a gauge of the total value of the products customers buy — of $8 billion to $8.2 billion, above FactSet fo ...

A smartphone with an Instacart logo displayed is seen in this illustration taken March 25, 2022.Instacart on Tuesday announced it would lay off about 250 employees, or roughly 7% of the company, as part of a restructuring. The news came as the company reported fourth-quarter earnings that fell roughly in line with analysts' revenue estimates.Shares of the company fell 5% in extended trading.The layoffs are focused in part on middle management and creating a flatter organizational structure, according to Ins ...

If you suffered losses exceeding $100,000 investing in (a) Instacart common stock pursuant and/or traceable to the Offering Documents (defined below) issued in connection with the Company's initial public offering conducted on or about September 19, 2023 (the "IPO" or "Offering"); and/or (b) Instacart securities between September 19, 2023 and October 1, 2023, both dates inclusive (the "Class Period"). and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4 ...

Instacart Fulfillment as a Service helps Hy-Vee increase order fulfillment, expand delivery options and optimize services for customers  SAN FRANCISCO, Feb. 8, 2024 /PRNewswire/ -- Hy-Vee, Inc. today announced it has expanded its partnership with Instacart (NASDAQ: CART), the leading grocery technology company in North America. Powered by Instacart Fulfillment as a Service (FaaS), Hy-Vee is integrating Instacart's fulfillment capabilities for same-day delivery into its owned and operated websites and apps. ...

Instacart and the U.S. Department of Health and Human Services (HHS) are teaming up to help more people access healthy food and tools for better health.  The partnership’s goal is to back and extend initiatives treating food as medicine with programs, research, outreach and policies to improve health outcomes and equity in the U.S.  They aim to educate the public on the therapeutic potential of food, enhance understanding of intervention techniques, and develop scalable approaches to reach more individuals ...

WASHINGTON, Jan. 31, 2024 /PRNewswire/ -- Instacart (Nasdaq: CART), the leading grocery technology company in North America, and the U.S. Department of Health and Human Services (HHS), today announced a new public-private partnership to support and scale food as medicine interventions, including by increasing access to nutritious food and offering the tools needed to support better health and wellbeing for individuals and families across the country. Through the partnership, Instacart and HHS will seek oppo ...

Instacart has significantly expanded its acceptance of Supplemental Nutrition Assistance Program (SNAP) Electronic Benefits Transfer (EBT) payments, as aggregators compete to unlock the spending opportunities presented by a range of benefits programs.The grocery aggregator announced Tuesday (Jan. 30) that it has broadened its SNAP acceptance to reach 96% of households enrolled in the program, enabling these payments across a range of grocers, including select Kroger-owned banners, Hy-Vee, Schnucks and other ...

SNAP recipients can now shop online with their benefits from Hy-Vee, Schnucks, and more than 10 additional Kroger banners including City Market, Dillons, Fred Meyer, Harris Teeter, King Soopers, Mariano's, Metro Market, Pick n' Save, Smith's and more, delivered same-day via InstacartInstacart now offers online SNAP acceptance with more than 170 retail banners across more than 14,000 stores SAN FRANCISCO, Jan. 30, 2024 /PRNewswire/ -- Instacart (NASDAQ: CART), the leading grocery technology company in North ...