"Restaurant-Tech Firm Toast Slashes 10% of Workforce as Sales Surge Falters"
TL;DR Summary
Toast Inc., a restaurant-focused software company, is set to cut about 550 employees in a move aimed at promoting operating expense efficiency. The company, known for processing payments for restaurants, went public in September 2021 but has seen its shares plunge amid industry slowdowns and competition. The job cuts come as part of a new wave of workforce reductions in the technology industry, with companies like Microsoft, Google, Amazon, and Salesforce also eliminating positions in 2024.
Topics:business#businesstechnology#job-cuts#restaurant-software#technology-industry#toast-inc#workforce-reduction
- Restaurant-Software Firm Toast to Cut 550 Workers Yahoo Finance
- Toast will lay off 10% of its workforce, about 550 employees, as growth slows CNBC
- Toast's stock heats up on sales jump MarketWatch
- Toast cuts 550 jobs The Boston Globe
- Toast stock slides amid report company will lay off 550 employees (NYSE:TOST) Seeking Alpha
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