GrubHub Faces Backlash, Stock Drop After CEO's Ant
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Posted On: 11/12/2016 5:15:07 PM
GrubHub Faces Backlash, Stock Drop After CEO's Anti-Trump Email
GrubHub, an online food delivery service, is facing a firestorm after CEO Matt Maloney sent an anti-Donald Trump email to employees.
“While demeaning, insulting and ridiculing minorities, immigrants and the physically/mentally disabled worked for Mr. Trump, I want to be clear that this behavior–and these views, have no place at GrubHub,” Maloney wrote in the email Wednesday. “Had [Trump] worked here, many of his comments would have resulted in his immediate termination.”
Maloney also wrote in the email to 1,000-plus employees that Trump's “nationalist, anti-immigrant and hateful politics” have no place at GrubHub
“If you do not agree with this statement, then please reply to this email with your resignation because you have no place here. We do not tolerate hateful attitudes on our team.”
Now, the company is facing a backlash and a significant stock drop.
GrubHub (NYSE: GRUB) shares closed Friday at $35.31, a drop of nearly five percent compared to the previous close.
The New York Post reported that the sellout in GrubHub shares was caused by Wall Street investors fretting that customers might boycott the company.
Indeed, angry users immediately slapped GrubHub’s app with 1-star reviews in the iPhone App Store.
The app currently has a star rating of 1 1/2 out of 5, with users saying things like, "Worst company ever!" and "Not a company to do business with" and "Matt Maloney step down."
The hashtag "#boycottgrubhub" has been used on many of these negative reviews.
GrubHub, an online food delivery service, is facing a firestorm after CEO Matt Maloney sent an anti-Donald Trump email to employees.
“While demeaning, insulting and ridiculing minorities, immigrants and the physically/mentally disabled worked for Mr. Trump, I want to be clear that this behavior–and these views, have no place at GrubHub,” Maloney wrote in the email Wednesday. “Had [Trump] worked here, many of his comments would have resulted in his immediate termination.”
Maloney also wrote in the email to 1,000-plus employees that Trump's “nationalist, anti-immigrant and hateful politics” have no place at GrubHub
“If you do not agree with this statement, then please reply to this email with your resignation because you have no place here. We do not tolerate hateful attitudes on our team.”
Now, the company is facing a backlash and a significant stock drop.
GrubHub (NYSE: GRUB) shares closed Friday at $35.31, a drop of nearly five percent compared to the previous close.
The New York Post reported that the sellout in GrubHub shares was caused by Wall Street investors fretting that customers might boycott the company.
Indeed, angry users immediately slapped GrubHub’s app with 1-star reviews in the iPhone App Store.
The app currently has a star rating of 1 1/2 out of 5, with users saying things like, "Worst company ever!" and "Not a company to do business with" and "Matt Maloney step down."
The hashtag "#boycottgrubhub" has been used on many of these negative reviews.
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