Barcelona-based food delivery business Glovo is today announcing layoffs that will affect 6% of its staff 250 people will lose their jobs, with the recruitment and data departments in the Barcelona HQ being most affected. The CEO is set to tell the staff of the decision in an all-hands meeting Monday morning.
The company told Sifted the market downturn is behind the move: “The current macroeconomic situation, with rising interest rates and inflation, has impacted the purchasing power of consumers, which we noticed towards the end of 2022.”
Glovo said its rapid recent growth — which it says has seen its team size grow 40% year on year, to 3,900 people today — had “naturally created inefficiencies”, which it now “needs to correct”. It said it will also reduce “non-headcount-related operational expenses” and will only be hiring for “business-critical roles through the first half of 2023.”
