RetailUS

Grove Collaborative Layoffs

March 2022

Grove Collaborative announced a layoff affecting 0 employees (17% of its workforce) in March 2022. The company operates in the Retail sector.

People Affected

Percentage

17%

Announced Date

Mar 19, 2022

About

Grove Collaborative, a sustainable personal care and home goods company, laid off approximately 17% of its corporate workforce in late March 2022. This restructuring occurred as the company prepared for its upcoming public listing via a SPAC merger, which valued it at $1.5 billion. While Grove reported a revenue increase to $383.7 million for 2021, the figure slightly missed its target. The layoffs appear to be a strategic move to streamline operations and optimize resources ahead of its transition to becoming a publicly traded entity on the New York Stock Exchange.