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.