Toasty News: Toast Announces Layoffs Amid Strong Earnings

Toasty Layoffs

In a move that's hotter than Scorpion's "Toasty!" catchphrase Toast the maker of restaurant management software has decided to let go of 550 employees which is about 10% of its workforce. Ouch! That's gotta sting.

Strong Earnings Blaze Past Expectations

Despite the layoffs Toast reported fourth quarter earnings that surpassed Wall Street's expectations. Looks like they've managed to land a fiery punch!

Tech Companies Feeling the Heat

It seems like technology companies are feeling the burn in 2024. Just a day before Toast's announcement Cisco also revealed it would be eliminating 4,000 jobs. Looks like everyone's having a hot time in the tech industry.

Revenue Rises Like a Phoenix

Toast's revenue increased by a scorching almost 35% year over year during the quarter. That's enough to make even the NetherRealm tremble!

Competition Heating Up

Toast may be facing some fierce competition but like Scorpion taking on Sub Zero they're still in the fight. Bank of America analysts noted the increasing competition from Block Fiserv and Shift4 but Toast's transactions continue to grow. Get over here competition!

New CEO with a Burning Desire

Aman Narang Toast's co founder and COO has taken over as CEO replacing Chris Comparato. With his fiery ambition Narang aims to achieve operating profit in the first half of 2025. Looks like he's ready to bring the heat!