DoorDash cuts 1,250 jobs to rein in costs

Food delivery service DoorDash Inc said on Wednesday it was cutting about 1,250 jobs in a bid to reduce costs in the face of a global economic slowdown.

The company joins a list of multinational American firms that have laid off employees in recent weeks due to rising operating costs amid decades-high inflation. "We were not as rigorous as we should have been in managing our team growth ... That's on me. As a result, operating expenses grew quickly," said Chief Executive Tony Xu in a message to employees posted on the company's website.

As of Dec. 31, 2021, the company had more than 8,600 employees worldwide.

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