Related: Blue Apron meal kits now sold on Īs a result of the layoffs, the company said it would incur about $1.2 million in employee-related expenses in the fourth quarter, primarily in the form of severance payments.īlue Apron said it plans to further reduce expenses and has identified expense reductions of up to approximately $50 million in 2023. Because of uncertainty around the financing, Blue Apron had previously withdrawn its proposed revenue growth targets for the full year.
The company said that a proposed financing agreement with an affiliate of a shareholder did not unfold as expected, and that it was discussing its options with financial advisors. Blue Apron, once a high-flying leader in the subscription meal kit delivery niche, said it will trim its workforce by 10% to cut costs amid rising financial pressures.
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