Meal delivery service Blue Apron has announced layoffs affecting 10 percent of its corporate staff.

The move comes as the New York City-based retailer is forced to cut costs amid sluggish sales.

It is hoped the job cuts will help save the firm almost $50 million in 2023.

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The firm said it will “create a more nimble, focused organization and to better align internal resources with strategic priorities.”

Blue Apron estimates that the job losses will cost the business $1.2 million in employee-related expenses.

As of June 30, the company employed nearly 1,694 full-time people, so the cuts number around 160.

It offers a meal–kit delivery service that includes ingredients and recipes to cook meals.

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Blue Apron aims to remain compliant at least till the first quarter of 2023 and is in talks with its financial advisers to evaluate funding and other options.

The news comes the same week BuzzFeed and PepsiCo announced staff downsizing amid uncertain economic conditions.

In the past month, tech giants Amazon, Apple, Meta, and Twitter confirmed mass layoffs or hiring freezes.

Source: Bloomberg

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