Just Eat Takeaway.com, Europe's largest meals delivery company, said on Wednesday that it would restructure its operations in France and cut 390 jobs, citing 'challenging market dynamics'.
In an e-mailed statement, a spokesperson for the company said that the move was part of the loss-making company's attempts to improve profitability and would affect around 350 couriers and 40 office staff.
"The strategic restructuring will consist of redundancies of staff in the Paris office and changes in the operations of our delivery business," they said.
Competitors
Although Just Eat is the largest meals company in Europe as a whole, in France it lags behind Uber Eats and Deliveroo, which cut its 2022 sales forecasts on Monday.
Shares in Just Eat, which have lost two-thirds of their value this year, jumped nearly 10% on the news to €16.45.
In a note, HSBC said the move was a 'sign of further market repair and discipline that should underpin confidence in the [company's] move towards breakeven and profitability.'
Increased Commission
On the 29 June, the online meals ordering company, said that it is increasing the commission it charges restaurants for its services by around one percentage point in most European markets, the company said on Monday.
"I can confirm that in response to rising inflation and higher operational costs, we are increasing our commission rates for the first time in five years in certain European markets," a spokesperson said.
Read More: Just Eat Enlists Katy Perry To Front Its New Global Campaign
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