Just Eat unveils €150m share buyback a month after cutting 1,700 staff

Takeaway delivery group reports 14% drop in orders and 8% fall in sales in first quarter of 2023

The takeaway delivery group Just Eat has announced plans to buy back up to €150m (£132m) of shares from investors weeks after cutting 1,700 couriers in the UK as part of a plan to scrap guaranteed minimum wage and paid holiday.

The company announced the share buyback plan alongside data showing a 14% drop in orders and an 8% slide in sales in the first three months of the year. Takeaway sales have fallen back after demand soared during the pandemic.