Electric scooter founder Lime exits dozens of markets, seeks 14% reduction in labor for profit
On January 10th, according to foreign media reports, electric scooter rental startup Lime will cut about 14% of its employees and withdraw from 12 markets in the United States and overseas.
Co-founder and CEO Brad Baosai said in a blog post on the company's website on Thursday that legal neutron holding company Lime will cease operating in 12 markets worldwide. Mr. Bao said that in the United States, it will withdraw from Atlanta, Phoenix, San Diego and San Antonio. The company said the decision will affect about 100 employees.
Foreign media said that the decision reflects the heavy pressure on the electric scooter industry in terms of fierce competition and profitability. In recent years, shared electric scooter companies including Lime have risen rapidly, but with more and more competitors joining, the industry is increasingly stimulating, and coupled with the unprofitable business model, the industry seems to be following China's bike sharing The footsteps of the industry.
Lime rivals Bird Rides and Lyft have also announced job cuts or closed operations in the past year.
But Bao Zhoujia still expressed confidence in the future, saying "We believe Lime will be the first next-generation mobile mobility company to achieve profitability."