The company declared that it will eliminate 12% of its workers as micromobility startups struggle during the economic slump.
According to Voi, approximately 70 workers will lose their jobs, with the remainder working as consultants or part-timers. According to the corporation, non-office professions such as mechanics and field workers are “largely unaffected by the changes”.
CEO and cofounder Fredrik Hjelm stated, “It’s extremely difficult to say goodbye to some of our highly valued colleagues who have made significant contributions to Voi.”
Hjelm, who cofounded the company in 2018, stated that Voi has lowered “central overhead costs by nearly 50% since mid-2022”.
Last year, the firm reported it increased its gross profit by 22% and gross margin by 49%.
The cuts at Voi come after a tough year for the micromobility industry. Dott and Tier, two electric scooter and bike firms, announced in January that they would merge after the latter laid off 20% of its workers by late 2023.
According to German journal Manager Magazin, the merger will value the new business at €150 million, which is a considerable reduction from Tier’s €2 billion valuation in 2021.
