The technology sector across multiple industries is facing mass layoffs amid macroeconomic uncertainty – from the tech giants like Amazon, Google and Meta, down to unicorn startups. Now restaurant tech seems to be joining them. After several years of new foodservice tech startups popping up and nabbing big investor checks seemingly every other day, the industry is experiencing a slowdown.
In just the last couple of weeks, both Olo and Grubhub announced layoffs.
Amid this flurry of activity, investors are wondering: has the food tech bubble finally burst?