Cabify Layoffs

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Cabify, the Spanish mobility and VTC company, laid off approximately twenty employees in Spain between January and April 2024. This move is part of an internal restructuring and team reorganization, described as a labor reordering that aligns with broader financial realignment efforts. The layoffs, while small in number, are linked to the company's strategic shift toward improving its EBITDA and operational metrics, as it prepares for a potential future IPO—a plan announced in 2023 but since postponed. Amidst these changes, Cabify has also secured significant funding and renegotiated debt, all while transitioning from its major shareholder Rakuten. The restructuring reflects a focus on financial sustainability and a revised compensation model emphasizing performance bonuses.

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