Minneapolis’ StarTribune newspaper reports that Louisiana-based Waitr Holdings laid off the majority of employees at Bite Squad’s downtown Minneapolis headquarters. Waitr acquired Bite Squad in late 2018 for $321 million. The move is the latest shakeup for Waitr, which has exited some underperforming markets, weathered waves of high-profile executive departures, seen its share price plummet toward zero and installed Adam Price as the new CEO, replacing Founder Chris Meaux.
Waitr declined to release details about market closures ahead of its quarterly results, and said that it was not closing its Minneapolis office as more functions are consolidated at its Lake Charles, Louisiana, headquarters.
“Eliminating jobs is the last thing a business ever wants to have to do,” said Waitr CEO Adam Price in a statement. “Actions taken this week were done to best position Waitr for the future and enable the company to continue providing a consistent, reliable experience to our customers, and valuable relationships to our restaurant partners.”
Earlier this month, Waitr announced that its Chief Financial Officer Jeff Yurecko resigned from his position, one of several recent departures including several who joined Waitr from Minnesota-based Bite Squad.
We’ll bring you a deeper dive into Waitr’s quarterly results with next week’s Food On Demand.