Instacart to lay off 250 employees, or about 7%, as part of restructuring

A smartphone with an Instacart logo displayed is seen in this illustration taken March 25, 2022.Instacart on Tuesday announced it would lay off about 250 employees, or roughly 7% of the company, as part of a restructuring. The news came as the company reported fourth-quarter earnings that fell roughly in line with analysts' revenue estimates.Shares of the company fell 5% in extended trading.The layoffs are focused in part on middle management and creating a flatter organizational structure, according to Ins ...