The Stockholm based micro-mobility startup Voi Technology has announced to lay off more than 10% of its current workforce ~ 35 Employees from company’s headquarters.
CFO & Deputy CEO of the company Mathias Hermansson, shared the announcement on Linkedin along with mentioning the reason for the same.
The European electric scooter market is currently a major battleground for small mobility companies, capitalizing on the desire of the population to move to Europe’s relatively small cities and sustainable modes of transport. In 2021, players like Tier, Voi and Dott will continue to increase their support for VC.
Mathias Hermansson’s statement from Linkedin
There is no doubt that when building a new scale industry, investments are needed. We raised our last funding in December 2021 and have since then passed 100 million rides by our customers.
We have been conservative with our investments during the first half of this year in response to the changing environment for growth capital. We therefore have a strong financial position and don’t anticipate any additional capital raise over the foreseeable future.
However, we at Voi Technology announced today that we are further increasing our focus on profitability and aiming to reduce headquarter related costs by 25% from current level.
We focus this on reducing external spend primarily, but unfortunately 35 currently filled HQ related roles (~10%) are impacted.
So, it has been a sad day for all our Voi colleagues as one of our core values is that we Ride Together.
At the same time, these actions are designed to increase our competitive strength, which we believe we will benefit from over the coming years.
Voi Technology Lays off 10% Workforce – 35 Employees
