Rad Power Bikes Layoffs
July 2023
Rad Power Bikes announced a layoff affecting 40 employees in July 2023. The company operates in the Transportation sector.
40
Jul 10, 2023
About
Rad Power Bikes, a Seattle-based electric bicycle company, is exiting the European market to concentrate its efforts on North American sales. This strategic shift, announced in July 2023, will result in the layoff of approximately 40 employees by the end of the year. The decision follows several previous rounds of layoffs and is part of a broader effort by the new CEO to control costs and address safety concerns, which have included high-profile lawsuits. The company, which first expanded to Europe six years ago, will cease sales in the UK and EU starting in 2024 to focus on its core market where its brand is strongest.
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