Milkrun Layoffs
February 2023
Milkrun announced a layoff affecting 0 employees (20% of its workforce) in February 2023. The company operates in the Food sector.
0
20%
Feb 15, 2023
About
Australian rapid grocery delivery startup Milkrun laid off approximately 20% of its workforce, affecting around 40 employees based on an estimated total of 200 staff. The cuts, announced internally by CEO Dany Milham on Wednesday, are part of a restructuring to extend the company's cash reserves amid challenging economic conditions. Milkrun is also consolidating several of its delivery hubs, though it will continue serving all current markets. The move follows a period of significant losses, with reports indicating the company was losing money on orders last year, and comes as rising interest rates make investors more cautious about cash-burning startups. The company stated these changes would secure its financial runway for over 12 months, with average order values reportedly doubling to more than $50.
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