San Francisco, June 13 : US-based online food ordering company Grubhub has announced to lay off about 15 per cent of its workforce, or nearly 400 employees, to maintain "competitiveness" in the market.

"There is no doubt whatsoever that we have a solid foundation in place and an immense opportunity ahead of us -- but it is also clear that we need to make some tough decisions in order to maintain our competitiveness, deliver the best possible service for diners and our other partners, and be successful for the long-term," Howard Migdal, Grubhub CEO, said in a message to employees on Monday. iPhone Price Cut: Apple iPhone 14, iPhone 14 Plus, iPhone 14 Pro, iPhone 14 Pro Max Now Available With Massive Discounts on Prices; Check Details Here.

Explaining the decision to lay off, the company said it's operating and employee costs grew at a higher rate. "Rightsising the business for where we are now a" which includes ensuring we have the right resources and organisational structure focused on the right priorities - will allow us to be more agile, make bolder bets and take advantage of all of the opportunities on our doorstep," Migdal stated. Meta’s AI-Powered Music Generator ‘MusicGen’ Released, Can Create Audio Using Text and Melody.

Meanwhile, music streaming platform Spotify has laid off 200 employees, 2 per cent of its workforce, from its podcast division as part of a corporate reorganisation. In January this year, Spotify slashed 6 per cent of its workforce, or about 600 staffers, globally.

(The above story first appeared on LatestLY on Jun 13, 2023 02:39 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).