The Toronto-based takeout service company let go of roughly 40 employees—or 45 per cent of its headcount—on Wednesday, said Lior Samfiru, an employment lawyer at Samfiru Tumarkin LLP. He told The Globe and Mail that multiple staff who had been laid off reached out to the firm. (The Globe and Mail)
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The Toronto-based takeout service company let go of roughly 40 employees—or 45 per cent of its headcount—on Wednesday, said Lior Samfiru, an employment lawyer at Samfiru Tumarkin LLP. He told The Globe and Mail that multiple staff who had been laid off reached out to the firm. (The Globe and Mail)
Talking point: Ritual did not immediately respond to The Logic’s request for comment. Founded in 2014, the firm grew rapidly before the pandemic, working with thousands of restaurants in North America, the U.K. and Australia, and expanding to other international locations. It has raised more than US$150 million, according to PitchBook. The pandemic hampered its operations. Revenue stagnated and it continues to record operating losses, though that narrowed from US$15.2 million in 2021 to US$10.9 million in 2022, according to documents viewed by The Globe. This is Ritual’s third round of layoffs in recent years.
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