What is Blue Apron thinking? As if the plunging stock price does not matter, the company has decided to make an ambiguous announcement about its employees’ job transfers.
The company argued that it was not a massive layoff, but rather, it was a transfer. Most of its employees accepted the offer.
People need work. People need money to feed their families. People have no choice. If they don’t take the offer, they are jobless with no paychecks.
The stock is trading at $5.88 a share, down more than 40% since the IPO.
It appears the markets are not ruling for Blue Apron because Amazon has decided to join the fight.