Instacart announces layoffs, departure of chief operating officer

Maplebear Inc. CART, +1.72% — the company better known as the grocery-delivery platform Instacart — said on Tuesday that it was laying off around 250 people, or around 7% of its staff, and announced the resignation of its chief operating officer. The announcement came after a fourth quarter in which sales came up short of estimates. However, the company forecast first-quarter gross transaction value — a gauge of the total value of the products customers buy — of $8 billion to $8.2 billion, above FactSet fo ...