Thursday, October 19, 2017 8:40:47 AM
On October 18, 2017, Blue Apron Holdings, Inc. (the “Company”) implemented a company-wide realignment of personnel to support its strategic priorities. This realignment resulted in a reduction of approximately 6% of the Company’s total workforce across both the Company’s corporate offices and fulfillment centers.
As a result of the realignment, the Company expects to incur approximately $3.5 million in employee-related expenses, primarily consisting of severance payments, substantially all of which will result in cash expenditures. The Company expects to incur such expenses during the fourth quarter of 2017.
On October 18, 2017, Matthew Salzberg, Chief Executive Officer of the Company, sent a letter to employees of the Company with respect to the realignment, the full text of which is attached hereto as Exhibit 99.1 and incorporated herein by reference.
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