E-scooter rental firm Spin to lay off a quarter of its staff

Langfang5天前Technology111

Business

E-scooter rental firm Spin to lay off a quarter of its staff

Electric scooter rental firm Spin said on Friday it will lay off 25per cent of its employees, as part of the company's restructuring plan to exit open permit markets.

San Francisco-based Spin was bought by Ford Motor Co in 2018 and operates as a standalone business within Ford Smart Mobility.

"Spin will no longer compete in open permit markets that lack sensible regulations," Ben Bear, chief executive officer of Spin said in a statement.

Bear, who took the helm in June last year, added that free-for-all markets create an uncertain operating environment.

He said Spin is beginning to wind down operations in a few U.S. markets and all of their markets in Germany and Portugal, while also projecting closure of Spain as early as February 2022.

"These places have permit market dynamics that make it difficult to identify a clear path to profitability," Bears said.

Spin operates dockless electric scooters on campuses and cities in North America and Europe, according to its website.

(Reporting by Kannaki Deka in Bengaluru; Editing by Shailesh Kuber)

相关文章

Sri Lanka boosts FX reserves with lift from Chinese swap

Sri Lanka boosts FX reserves with lift from Chinese swap

COLOMBO :Sri Lanka has raised its official foreign exchange reserves to around US$3.1 billion, helpe...

How Indonesia, the worlds top thermal coal exporter, hit a supply crunch

How Indonesia, the worlds top thermal coal exporter, hit a supply crunch

JAKARTA: Indonesia, the world's biggest thermal coal exporter, sent shockwaves through global energy...

Malaysian securities regulator charges Serba Dinamik, seeks arrest of CEO

Malaysian securities regulator charges Serba Dinamik, seeks arrest of CEO

KUALA LUMPUR: Malaysia's securities regulator said it is seeking the arrest of oil and gas services...

From electric cars to smart homes: 4 tech trends that will invade our lives in 2022

From electric cars to smart homes: 4 tech trends that will invade our lives in 2022

Some trends for 2022 that tech companies are pushing are things you will have heard of before.A chie...

Rivian delays deliveries of pickup, SUV with big battery packs to 2023

Rivian delays deliveries of pickup, SUV with big battery packs to 2023

Rivian Automotive Inc will delay deliveries of its electric pickup truck and sports utility vehi...

S.Africa telco MTN sides with regulator in spectrum auction rift

S.Africa telco MTN sides with regulator in spectrum auction rift

JOHANNESBURG : South Africa's MTN Group said on Friday it has opposed a court application by riv...