Grubhub CEO Howard Migdal said on Friday that the food delivery firm has decided to cut about 500 jobs, as it focuses on aligning its business with Wonder after the takeover was completed last month.Grubhub was bought last year by a food delivery startup Wonder,

Grubhub plans to cut 500 jobs, more than 20% of its workforce, as part of its alignment with new owner Wonder. The layoffs aim to streamline operation

Grubhub CEO Howard Migdal said on Friday that the food delivery firm has decided to lay off about 500 positions, as it focuses on aligning its business with Wonder after the takeover was completed last month.

Grubhub was sold to Wonder for just $650 million, a fraction of its pandemic-era peak valuation.