FoodNO

Oda Layoffs

November 2022

Oda announced a layoff affecting 70 employees (18% of its workforce) in November 2022. The company operates in the Food sector.

People Affected

Percentage

18%

Announced Date

Nov 1, 2022

About

Norwegian online grocery retailer Oda is laying off 70 employees, representing 18% of its approximately 400-person "group services" division, which handles expansion and long-term projects. The cuts, announced in November 2022, are part of a strategic shift toward faster profitability in response to a changed capital market environment. Founder Karl Munthe-Kaas cited the war in Ukraine, rising interest rates, and a downturn in the tech and e-commerce sectors as key reasons. The company, which operates in Norway and Finland, is scaling back its growth pace, including a slower rollout in Germany, while securing new funding at a lower valuation.