Gorillas may be endangered
Grocery app Gorillas, which promises to deliver goods in as quickly as 10 minutes, is laying off half of its office staff. In a press release, the company said it was letting go of roughly 300 employees from a “global office workforce” of 600.
The company is also planning to tighten its focus on five markets that account for 90 percent of its revenue: the UK, US, Germany, France, and the Netherlands. The company also operates in four other European markets — Spain, Denmark, Italy, and Belgium — where it says it is “looking at all possible strategic options for the Gorillas brand.
The news suggests trouble for the fast-growing “instant” grocery sector. Over the past few years, a huge number of these services have, fueled by venture capital investment and pandemic lock-down orders. These companies all rely on the same basic infrastructure: warehouses filled with groceries scattered throughout urban centers and armies of e-bike and scooter-riding delivery drivers to deliver the goods.
Many experts have warned that these services are essentially unsustainable, though, with their growth predicated on discounted prices that have been underwritten by VC funds hoping to capture what remains of the market once a few dominant players emerge. A
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Klarna to lay off approximately 10% of its workforceBNPL firm Klarna will let go of 10% of its workforce globally as the company suffers amid a global downturn.
Read more »
Klarna used a prerecorded video message to lay off 10 percent of employeesKlarna’s CEO blames a 'shift in consumer sentiment' and inflation.
Read more »
Under the skin: Why glass half recycled is glass half full | AutocarA 12-month pilot project headed by Audi is aiming to recycle 40 tonnes of car glass
Read more »
TikTok reportedly plans a 'major push' into gaming and games livestreamers could play with viewersTikTok reportedly plans a 'major push’ into gaming and games livestreamers could play with viewers
Read more »