Juicero, maker of the $400 juicer, just announced a price cut and employee layoffs
Juicero employees found out in a letter on Friday that the company is cutting the price of its cold-press juicing system. Some employees also found out they had been cut, too.
In a letter obtained by Fortune, Juicero CEO Jeff Dunn wrote, “the current prices of $399 for the Press and $5 – $7 for produce Packs are not a realistic way for us to fulfill our mission at the scale to which we aspire.”
The San Francisco startup’s mission is to help people consume more fresh produce everyday, and to get there they will focus on the next generation of the machine, which will run less than $300, according to Fortune.
Dunn also said that 25% of employees, mostly on the marketing side, would lose their jobs in a shift in focus to product development.