Term Sheet — Thursday, October 19 [Fortune]
Blue Apron Holdings, Inc. (APRN)
Last blue apron holdings, inc. earnings: 4/29 06:15 am
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investors.blueapron.com
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Source: Fortune
LAYOFF CENTRAL Good morning, Term Sheet readers. It’s been a tumultuous few months for Blue Apron since its public debut in June. Blue Apron’s stock is down almost 50% since its IPO, and it’s struggling to hold on to its unicorn status. The company is now laying off 6% of its employees , or approximately 300 people, across its fulfillment centers and corporate offices. Blue Apron CEO Matt Salzberg described the layoffs as a “company-wide realignment,” in an email to the staff. Although it’s easy to blame the all-powerful Amazon for rattling the newly-public company, Blue Apron has had a host of other issues that have nothing to do with Amazon. It encountered warehouse delays and employee training problems, some of which caused late delivery and wrong ingredients. In a domino-like effect, Blue Apron then ran into significant challenges around acquiring and retaining customers. It’s not easy being public. Read more at Fortune. Here’s some more termination n
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