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Doordash Cutting 1,250 Jobs

DoorDash ($DASH@US) plans to lay off about 1,250 people to cut company costs, CEO Tony Xu stated in a company memo. Xu said that while the company continues to grow, operating expenses would outgrow revenue. The layoffs will affect about 6 percent of the company’s workforce in U.S. and non-U.S. roles. DoorDash shares rose 2.5 percent in premarket trading following news of the layoffs.

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