Turkish grocery delivery firm Getir announced on Tuesday that it would be laying off 2,500 employees, or 11% of its global workforce. The layoffs are part of a broader restructuring effort by Getir, which is also exiting Italy, Spain, and Portugal.
The layoffs come as Getir faces increasing competition from other ultra-fast delivery companies, such as Gorillas and Zapp, as well as a return to physical stores by shoppers. Getir said that the restructuring would help it to “significantly increase operational efficiency” and “better position itself for long-term growth.”
In recent news, Getir has also been facing financial difficulties. In May, the company was forced to raise $750 million in funding at a lower valuation than it had previously commanded. And in June, Getir’s CEO, Nazim Salur, stepped down.
The layoffs and other recent developments are a sign that the ultra-fast delivery industry is facing some challenges. However, Getir remains one of the leading players in the market, and it is possible that the restructuring will help the company to weather the storm.
Here are some additional details about the layoffs:
- The layoffs will affect employees across all levels and functions, including in engineering, marketing, and operations.
- The affected employees will be offered severance packages and outplacement assistance.
- Getir said that it expects the layoffs to be completed by the end of the year.
The layoffs are a significant setback for Getir, but they are not necessarily a sign that the company is doomed. The ultra-fast delivery industry is still in its early stages, and there is still room for growth. If Getir can successfully navigate the current challenges, it could emerge as a stronger company in the long run.
In addition to the layoffs, Getir has also taken other steps to reduce costs, such as closing warehouses and cutting back on marketing. The company has also said that it is open to mergers and acquisitions as a way to grow.
The future of the ultra-fast delivery industry is uncertain, but Getir is determined to stay in the game. The company has a strong brand and a loyal customer base, and it is betting that it can weather the current storm and emerge as a leader in the market.
Only time will tell if Getir’s bet will pay off. But one thing is for sure: the ultra-fast delivery industry is about to get a lot more competitive.
