Ritual lays off half of its employees due to COVID-19: report

Toronto-based Ritual lays off one-half of its employees due to COVID-19: study

The Toronto-based company is the latest to take a hit due to COVID-nineteen

Toronto-based Ritual has laid off more than half of its employees and is going to minimize its operations equally a consequence of the COVID-19 pandemic.

BetaKit reports that the company says the virus is having a "devastating affect" on the restaurant industry, which in turn affects the app and its operations.

Ritual allows customers to society nutrient through its app, after which they can go and selection upward the food without waiting in line. The app also offers points that users tin redeem for a cheaper lunch. Since numerous restaurants effectually the world take shut down due to the virus, Ritual has been heavily impacted.

Betakit'due south sources note that around 196 employees take been laid off, which is slightly more than half of the 365 Ritual staff listed on LinkedIn.

"We are taking necessary steps to restructure how we operate and put us on solid footing to continue to serve our customers, merchants and neighbourhoods during this moment and the recovery to follow," the visitor said in a statement.

Ritual is also going to subtract its operations around the world, and is going to eventually withdraw its operations in Federal republic of germany and the Netherlands. Following its launch in 2014, the company had managed to expand its app into more l cities and 7 countries.

The visitor is the latest to take a striking following the negative impacts of COVID-19. As the virus and its impacts continue to spread beyond Canada and the residual of the world, we may likely continue to see more unfortunate layoffs.

BetaKit notes that it reached out to Ritual for a comment, but did not receive one by that time it published the report. You can read BetaKit'south full report here.

Ritual is available on iOS and Android.

Source: BetaKit