Another day992 Archives another round of layoffs at a tech start-up.
This time, it's e-scooter company Lime, which announced via a post on its website that the company is pulling out of 12 of its global markets, including four in the United States.
Those affected markets are: "Atlanta, Phoenix, San Diego and San Antonio in the United States; Linz, Austria in Europe; and Bogotá, Buenos Aires, Montevideo, Lima, Puerto Vallarta, Rio de Janeiro and São Paulo in Latin America."
It all comes down to profit, according to the post written by CEO Brad Bao. "While the vast majority of our 120+ markets have adopted micromobility transportation solutions quickly and are profitable," wrote Bao, "there are select communities throughout the world where micromobility has evolved more slowly."
Of course, pulling out of nearly 10 percent of your company's markets doesn't come without a cost. And while the post doesn't directly mention layoffs, Bao does acknowledges how the decision "... impacts [Lime employees'] lives and families." Axios reports the company is also laying off around 100 workers, which is about 14 percent of the company's total workforce.
A spokesperson for Lime confirmed that number to Mashable.
SEE ALSO: This e-scooter has THICC wheels and a fat price tag to matchLime is hardly the only e-scooter company that's had to layoff workers and cut back service. In November, Lyft cut service in six markets and laid off around 20 workers.
Meanwhile, Bird cut staff in March 2019 and then, in December 2019, laid off workers from Scoot, a smaller e-scooter start-up it acquired in June 2019.
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