Instacart told employees Thursday that it’s slowing hiring across your entire company because the grocery delivery giant looks to weather an increasingly brutal tech downturn, The Post has learned.
The news comes two months after Instacart slashed its valuation from $39 billion to $24 billion and said it had confidentially filed for an initial public offering.
Instacart uses gig employees to deliver groceries and other products from greater than 70,000 stores within the US and Canada. The San Francisco-based startup was founded in 2012 and has greater than 10,000 employees, based on startup data site Crunchbase.
“We hired greater than 1,500 people during the last 12 months and nearly doubled the dimensions of our engineering teams,” Instacart said in a press release to The Post. “As a part of our second half planning, we’re slowing down our hiring to concentrate on our most vital priorities and proceed driving profitable growth.”
Instacart uses gig employees to deliver groceries and other products from greater than 70,000 stores within the US and Canada.Boston Globe via Getty Images
The grocery delivery giant, which revealed the hiring slowdown to employees at an all-hands meeting, is removed from the one tech firm to drag back from hiring in recent days.
Meta, Twitter, Coinbase and Uber have all frozen hiring for not less than some divisions in recent weeks.
And grocery delivery startups Gorillas and Getir each laid off a whole bunch of employees this week — as did checkout payments startup Bolt.