Like many food delivery companies, Doordash needed to rein in costs over the past few months... to it had to lay off 6 per cent of its workforce.
👉 Background: While Doordash only entered the Australian market in 2019, it has made a major splash in the US since 2013. In fact, DoorDash is the largest food delivery company in the US with more than 56% of the market.
👉 What happened: But like many food delivery companies, Doordash has needed to rein in costs over the past few months so it made the decision to lay off 6 per cent of its workforce.
👉 What else: The CEO said that its first goal was to reduce its non-headcount operational expenses.. But that alone wouldn’t close the gap.
💡 There are two main expenses on a company's profit and loss statement that cover all the wonderful company expenses.
💡We've got the operating expenses. These are all the expenses that a company needs to maintain to perform its regular business activities. Think: marketing costs, office supplies, rent and of course wages.
💡We've also got the non-operating expenses. These are the expenses that aren't directly related to core, day-to-day company operations. Think: interest payments, one-off costs or asset write downs.
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