Toast plans to lay off ~550 employees, or ~10% of its workforce, to promote "operating expense efficiency" and will incur about $50M in costs such as severance (Brody Ford/Bloomberg)

Brody Ford / Bloomberg:

Toast plans to lay off ~550 employees, or ~10% of its workforce, to promote “operating expense efficiency” and will incur about $50M in costs such as severance  —  Toast Inc., a restaurant-focused software company, will cut about 550 employees, adding to the spate …