DoorDash lays off 1,250 employees, CEO says 'I know it's a shock'

DoorDash is laying off 1,250 employees to cut costs, the food delivery service said on Wednesday. "I know that...[this] will come as a shock...We were not as rigorous as we should have been in managing our team growth. That's on me," DoorDash CEO Tony Xu said. "We...will continue to reduce our non-headcount operating expenses," Xu added.