Spin Layoffs
January 2022
Spin announced a layoff affecting 0 employees (25% of its workforce) in January 2022. The company operates in the Transportation sector.
0
25%
Jan 8, 2022
About
Spin, the e-scooter-sharing startup owned by Ford, is laying off a quarter of its workforce as part of a major restructuring to pursue profitability. The company is exiting nearly all open permit markets globally, where multiple operators compete without fleet caps, citing an unsustainable "race to the bottom" on pricing and an inability to maintain service quality. This shift will involve winding down operations in several U.S. markets and entirely in Germany, Portugal, and Spain by around February 22nd. Moving forward, Spin will concentrate on limited vendor markets in the U.S., Canada, and the UK, where cities select partners through procurement processes—a model that reportedly doubles its revenue. The layoffs, while unspecified in exact numbers, reflect the company's strategic pivot away from highly competitive open markets.
Related Events
More Transportation Layoffs
Report an Error
If you find incorrect information, please let us know so we can correct it.
support@layoffs.nl