Like many other tech firms, Lime is taking deep cost-cutting measures to weather the crisis.
Investors were gushing over e-scooter companies like Lime back in 2018.Thomas Trutschel | Photothek via Getty Images
Scooter-sharing firm Lime is laying off 13% of its global workforce, the company's CEO announced Friday, as the coronavirus pandemic has wiped out demand for on-demand transportation services.Thursday. They will receive an email and meeting invitation to talk through the departure process and exit package, he added.
"Almost overnight, our company went from being on the eve of accomplishing an unprecedented milestone — the first next-generation micromobility company to reach profitability — to one where we had to pause operations in 99% of our markets worldwide to support cities' efforts at social distancing," said Bao.
"Needless to say, while we thought we had planned for all possibilities this year, we did not anticipate a global pandemic.
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