Blue Apron Lays off Hundreds of Employees
Meal kit maker Blue Apron (NYSE: APRN) recently announced that it would lay off about 300 employees, or 6% of its workforce, in a bid to boost the company's "future growth." Employees in the marketing, software development, operations, and business development talent departments will be laid off, resulting in a $3.5 million charge.
CEO Matt Salzberg stated that the layoffs would "streamline decision making for greater accountability," but investors likely interpreted the move as another indicator that the company is in trouble. Blue Apron's stock tumbled 2.5% on Oct. 19 following the announcement, and is now almost 50% below its IPO price of $10.
Image source: Blue Apron.
Source: Fool.com
Amazon.com Inc. Stock
€235.90
-1.970%
Currently there is a rather positive sentiment for Amazon.com Inc. with 208 Buy predictions and 7 Sell predictions.
With a target price of 258 € there is a slightly positive potential of 9.37% for Amazon.com Inc. compared to the current price of 235.9 €.
