Getaround (NYSE: GETR) (“Getaround'' or “the Company”), the world's first connected carsharing marketplace, today announced the Company will streamline operations and reduce costs to achieve a leaner path to profitability. These changes also include a workforce reduction, effective immediately, that impacts approximately 10% of the Company’s current staff. The restructuring plan also includes significant reductions to other operating expenses, including reducing the Company’s contract workforce, and outside professional services. This revised global business strategy is intended to fortify the Company’s path to achieve sustainable profitability and long-term growth. Together, these reductions to the Company's operating expenses are estimated to result in cost savings of between $25 and $30 million on an annualized run-rate basis.
Getaround Announces Restructuring Plan to Reduce Costs and Streamline Operations
Feb 02, 2023
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