FoodUS

Toast Layoffs

April 2020

Toast announced a layoff affecting 1,300 employees (50% of its workforce) in April 2020. The company operates in the Food sector.

People Affected

1,300

Percentage

50%

Announced Date

Apr 7, 2020

About

Toast, a restaurant software company, laid off 1,300 employees on Tuesday, representing 50% of its total workforce. The cuts affected all departments and were concentrated in Boston, Chicago, and Omaha. The company stated its success is directly tied to the restaurant industry, which has experienced sales declines of up to 80% in many cities due to the COVID-19 pandemic. This drastic reduction highlights the severe impact of the pandemic on the broader restaurant and hospitality sector.