Bounce

Bounce, a scooter rental and electric two-wheeler manufacturer, laid off approximately 5% of its workforce, affecting around 40-50 employees, as part of cost-cutting measures in early January 2023. With a total staff of 500-700 in India, the layoffs targeted customer support, finance, and other segments. The company, backed by Sequoia Capital and other investors, has been shifting focus from its pandemic-hit bike rental operations to electric vehicle manufacturing under the Bounce Infinity brand. This marks the third round of layoffs for Bounce, following significant workforce reductions in 2021, as it strives to streamline expenses and drive efficiency in its OEM business amid ongoing industry challenges.

Indian mobility startup Bounce has conducted its second major round of layoffs, reducing its workforce to approximately 200 employees. This follows a previous reduction of 130 employees in June 2020. The latest cuts, occurring in February 2021, affected an estimated 200-odd employees across all levels, representing a significant reduction of 40-60% from its pre-layoff headcount. The company, which operates an on-demand two-wheeler rental service, cited persistently subdued demand in the shared mobility sector due to the prolonged impact of the COVID-19 pandemic as the primary reason. Bounce stated it is refocusing its strategy to concentrate on its electric vehicle (EV) two-wheeler business and will utilize its remaining capital of around $70 million to grow this segment. Affected employees were offered three months of severance pay.

Bengaluru-based two-wheeler rental startup Bounce has laid off 130 employees, representing about 22% of its workforce, due to the severe impact of the Covid-19 pandemic on the mobility industry. Announced in mid-2020, this cost-cutting measure came as the company reassessed its business priorities, leading to the transformation or postponement of several new projects and product lines. To support affected staff, Bounce reinstated their pre-pandemic salaries, provided three months of severance pay, extended health insurance through December 2020, and offered pro-rata ESOP awards and outplacement assistance. The company, which operates a keyless scooter rental service across multiple Indian cities, faced significant revenue challenges that forced it to scale back expansion plans.

Bounce laid off 120 employees on 2020-03-19.