Voi Layoffs

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Swedish electric scooter startup Voi Technology laid off 120 employees, representing about 12% of its workforce, in February 2024. The cuts primarily affected full-time employees, consultants, and part-time staff in office roles, while field operations like mechanics were largely spared. CEO Fredrik Hjelm described the decision as difficult but necessary, citing the company's ongoing pursuit of profitability amid a challenging economic climate for the micromobility sector. This move follows Voi's efforts since mid-2022 to reduce central overhead costs by nearly 50, even as it reported growth in gross profit and margin the previous year. The layoffs reflect broader industry pressures, seen in similar restructuring and mergers among competitors like Tier and Dott.

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