ASAP, formerly Waitr, to lay off 89 workers
LAFAYETTE, La. (KLFY) -- ASAP, the food delivery service formerly known as Waitr, is about to get smaller.
The Lafayette-based company will lay off 89 workers, according to a filing with the Louisiana Workforce Commission.
According to the filing dated Nov. 11, the company will lay off 89 workers effective Jan. 10, 2023.
The layoffs are presumably a response to the company's third quarter revenue reports, dated Nov. 9. The company reported that revenue for the third quarter of 2022 was $25.1 million, compared to $43.4 million for the third quarter of 2021.
The company reported a net loss of $73.5 million in the third quarter of 2022, compared to net profit of $12.3 million in the third quarter of 2021, according to the company.
"The decline in revenue was primarily a result of lower order volumes driven by the highly competitive environment of the delivery business, partially offset by revenue from our third-party payment processing referral services operations," the report said.
In August 2022, the company initiated its rebranding initiative and introduced the new “deliver anything ASAP” business model. As of Sept. 30, ASAP.com operates in approximately 1,000 cities throughout the United States, the company said.