Flink Layoffs
May 2023
Flink announced a layoff affecting 100 employees (16% of its workforce) in May 2023. The company operates in the Food sector.
100
16%
May 24, 2023
About
Flink, a Berlin-based rapid grocery delivery service, has secured a €150 million emergency funding round led by existing investors like Rewe and DoorDash, despite a significant drop in valuation from €2.5 billion to around €1 billion. This comes after the company avoided a speculated sale to competitor Getir. The funding follows a period of severe challenges for the quick-commerce sector post-pandemic, with Flink having already laid off over 8,000 employees last year to cut costs. While this new capital injection provides a temporary lifeline, it highlights ongoing struggles to achieve profitability in the industry.
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