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February 22nd - According to data from the Hong Kong-Zhuhai-Macau Bridge Border Inspection Station of the Zhuhai Border Inspection General Station, since February 15th (the 28th day of the twelfth lunar month), as of February 21st (the fifth day of the first lunar month), the number of Hong Kong and Macau single-license plate vehicles entering and exiting through the Zhuhai Port of the Hong Kong-Zhuhai-Macau Bridge has exceeded 100,000, reaching 114,000. On February 21st (the fifth day of the first lunar month), the number of Hong Kong and Macau single-license plate vehicles inspected by the border inspection department exceeded 20,000 for the first time in a single day, setting a new historical high since the implementation of the "Macau vehicles traveling north" and "Hong Kong vehicles traveling north" policies.February 22 – Ahmed Altom, Director General of the Geological Research Authority of Sudan, stated on February 21 that the armed conflict in Sudan has caused approximately $7 billion in economic losses to the countrys mining industry. Altom said that the conflict has severely damaged Sudans mining infrastructure, reducing government-led mining activities from 18 states to 6. Geological surveys, exploration operations, and mining production have all been significantly affected, resulting in a sharp decline in related fiscal revenue.On February 22, US President Trump approved emergency aid to Washington, D.C., to address the aftermath of a leak that released at least 250 million gallons (approximately 940 million liters) of untreated sewage into the Potomac River. On January 19, a decades-old sewage pipe in Maryland ruptured, causing over 900 million liters of wastewater to flow into the Potomac River. This river flows west of Washington, D.C., and is a major source of drinking water for the capital region. The incident became one of the largest sewage spills in U.S. history. On February 18, Washington, D.C. Mayor Muriel Bowser declared a state of emergency and requested federal resources from President Trump to help the city deal with the sewage system leak.February 22nd - NIOs official Weibo account announced that on February 21st, 2026 (the fifth day of the Lunar New Year), NIOs battery swap service reached a record high of 175,976 transactions. This marks the fourth consecutive day of record-breaking performance since the start of the Year of the Horse.February 22nd - According to data from Maoyan Professional Edition, the total box office (including pre-sales) for the 2026 Spring Festival film season has exceeded 4.6 billion yuan, with "Pegasus 3", "Silent Assassination", and "The Legend of the Swordsman" ranking in the top three.

DoorDash Eliminates 1,250 Positions to Curb Escalating Costs

Dec 01, 2022 11:05

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DoorDash Inc. announced on Wednesday that it will eliminate around 1,250 positions, or 6% of its total workforce, as a cost-cutting measure in response to declining demand.


DoorDash ramped up hiring to accommodate the surge of orders from those confined to their homes during the height of the pandemic, but a sudden fall in demand from inflation-conscious customers has caused the company's expenses to skyrocket.


"We should have been more vigilant in monitoring the expansion of our employees... It is my fault. As a result, operating expenses skyrocketed" CEO Tony Xu noted in a note to colleagues that was posted on the company's website.


If nothing was done, our operating expenses would continue to exceed our revenue, given how quickly we employed.


In morning trade, the shares of the corporation, which has declined by over 64 percent this year, was up approximately 5 percent.


DoorDash employs around 20,000 individuals and has delivery partnerships with Walgreens Boots Alliance (NASDAQ:WBA) and Shake Shack (NYSE:SHAK).


Given the prospect of a faster-than-expected decrease in consumer spending, a stronger focus on its cost structure is a positive sign, according to Angelo Zino, an analyst at CFRA Research.


In the first week of this month, DoorDash reported a quarterly financial loss of $295 million, which raised concerns about the future viability of delivery companies as economies recover.


The British meal delivery firm Deliveroo said at the end of October that its revenue growth would fall short of projections.


In recent weeks, DoorDash has joined Amazon.com Inc (NASDAQ:AMZN), Meta Platforms Inc (NASDAQ:META), and Twitter Inc (NYSE:TWTR) in laying off hundreds of employees in preparation for a potential economic downturn.


Xu noted that reducing non-headcount operating expenses "would not close the gap" while stressing that DoorDash has been more resilient than other e-commerce enterprises.

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