03:30 PM EDT, 08/20/2024 (MT Newswires) -- The chief executive of SkipTheDishes says hundreds of Canadian employees are being laid off by the food delivery service and its parent company,The Canadian Press is reporting Tuesday.

Paul Burns says 100 Canada-based workers will depart SkipTheDishes. Some 700 staff also in Canada who work for its owner Just Eat Takeaway.com will also lose their jobs.

Burns announced the news in a LinkedIn post where he said the cuts were the result of a comprehensive review and restructure. He says the decision to cut staff was not easy but is necessary to ensure the business has the right resources and structure to drive growth.

The Globe and Mail newspaper noted SkipTheDishes, which was long headquartered in Winnipeg and has been around since 2012, was acquired in December 2016 for $110 million by Just Eat, which merged with Takeaway.com in 2020, while the COVID-19 pandemic was raging.

The Globe said: "Measures meant to quell the virus temporarily shut down many businesses and pushed people to spend increasing periods of time at home. The lack of venturing out was seen as a boon for food delivery services, which people increasingly turned to as a comfort and convenience during the crisis.

"As pandemic measures lifted, however, inflation and then interest rates soared, weighing on consumers and forcing many to look for ways to reduce spending."

(Market Chatter news is derived from conversations with market professionals globally, and/or from other media sources. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 117.85, Change: -0.02, Percent Change: -0.02