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Photo by David L. Ryan/The Boston Globe via Getty Images

ezCater, a Boston-based corporate catering startup valued last year at $1.25 billion, on Tuesday laid off more than 400 of its 900 employees, the company confirms to Axios.

The big picture: This is just the latest in a rapid series of major "unicorn" layoffs, particularly for companies servicing a market that has largely evaporated (in this case, hungry office workers).

A tweet previously embedded here has been deleted or was tweeted from an account that has been suspended or deleted.

ezCater's statement:

"There is not enough sugar on the planet to sugarcoat this: we’re a company that feeds meetings, and meetings are not happening much right now. We were crushing our 2020 plan, until coronavirus hit.
Now, we have to scale back until the world returns. We painstakingly identified the roles we need to be successful today and tomorrow, and are parting ways with over 400 employees across all four ezCater offices. That hurts. With each one of them, we are sorry to say goodbye.
Coronavirus is accelerating the move of restaurants and catering online. ezCater is well-capitalized and remains as ready as ever to help our catering partners grow their business and help our customers succeed. When business gets back to work, ezCater will be here to feed every kind of meeting."

Update: An earlier version of this story reported that the company began with 750 employees, rather than 900.

Go deeper

Senate confirms antitrust expert Lina Khan as FTC commissioner

Lina Khan speaks at a Senate Commerce, Science and Transportation Committee confirmation hearing. Photographer: Saul Loeb/AFP/Bloomberg via Getty Images.

The Senate voted 69-28 on Tuesday to confirm antitrust expert Lina Khan as a commissioner on the Federal Trade Commission.

Why it matters: Known for her work on how to apply antitrust laws to the tech industry, Khan's confirmation marks a changing tide in federal government efforts to rein in Big Tech companies, Axios' Ashley Gold and Margaret Harding McGill report.

MacKenzie Scott donates another $2.7 billion to 286 organizations

MacKenzie Scott with her former husband, Jeff Bezos, the CEO of Amazon. Photo by Greg Doherty/Patrick McMullan via Getty Images)

MacKenzie Scott announced Tuesday that she and her husband, Dan Jewett, had donated $2.74 billion to 286 different organizations, including community-based nonprofits and organizations focused on racial justice.

Why it matters: It's the next phase of what the New York Times describes as a "highly unconventional approach" to philanthropy from one of the richest women in the world.