Weee!, the SoftBank-backed online grocer specializing in Asian and Hispanic foods, laid off approximately 150 employees in late June 2022, representing about 10% of its workforce. The cuts primarily targeted corporate roles, including nearly the entire marketing team, and coincided with the departure of several top executives, including the CFO. CEO Larry Liu framed the move as a strategic reorganization to extend the company's financial runway by an additional year as it prepares for a potential IPO, rather than a direct reaction to economic pressures. Despite recently raising $425 million at a $4.1 billion valuation and doubling its revenue to $400 million the previous year, Weee! is navigating a broader slowdown in e-commerce and a tightening funding environment, mirroring retrenchments seen across the grocery delivery industry.
