Bounce Layoffs
January 2023
Bounce announced a layoff affecting 40 employees (5% of its workforce) in January 2023. The company operates in the Transportation sector.
40
5%
Jan 6, 2023
Company Information
- Industry
- Transportation
- Country
- IN
- Region
- Bengaluru, Non-U.S.
About
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.
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support@layoffs.nlCompany Information
- Industry
- Transportation
- Country
- IN
- Region
- Bengaluru, Non-U.S.