The Clap
DoorDash (NYSE:DASH) trimmed around 6% of its workforce to control costs.
What
The pandemic helped boost the company’s activities, as more people would stay home and order food rather.
Inflation, however, has impacted consumer behavior significantly and has driven costs up relative to the demand from consumers.
So What
The company’s operating expenses will be higher than revenues if the company’s spending is not controlled.
Now What
DoorDash’s larger-than-anticipated Q3 net loss of $295 million raised concerns about the growth potential of delivery companies as COVID restrictions ease.
