Instacart slashes jobs as ad revenue dwindles

Instacart (NASDAQ:CART), the grocery delivery giant, is cutting 250 jobs, or 7% of its workforce, to concentrate on more “promising” initiatives as it attempts to drive upward momentum into the share price. An uptick in grocery orders led the group to increase its forecast for both its first-quarter gross transaction value (GTV) and core profit, the business said in its fourth-quarter update. Despite this positive outlook, shares fell around 3% lower in pre-market trading after revenue came in lower than ex ...