Getaround Layoffs
February 2024
Getaround announced a layoff affecting 0 employees (30% of its workforce) in February 2024. The company operates in the Transportation sector.
0
30%
Feb 8, 2024
About
Car-sharing platform Getaround has laid off 30% of its North American workforce as part of a restructuring effort aimed at reducing costs, extending its cash runway, and accelerating its path to profitability. The company, which had 283 full-time employees at the end of 2022, did not disclose the exact number of current employees or those affected in this latest round, following a previous 10% reduction in February 2023. Announced on February 8, 2024, this move is expected to save about $7 million annually, despite up to $1 million in associated restructuring costs. While Getaround has reported revenue growth, including a 42% year-over-year increase in Q3, it remains unprofitable, with significant operating expenses and net losses. The company continues to operate in the competitive transportation and car-sharing industry, emphasizing its global marketplace and expansion into gig carsharing.
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