180 people are being laid off by Tier Mobility, the German micro mobility giant that recently acquired Spin from Ford, according to a post by CEO Lawrence Leuschner.
In order to accelerate our path to profitability, we have to respond to the current economic and funding climate, reduce the number of projects and business lines we are focusing on as a company.
He is committed to helping those who were laid off find new jobs. The Tier Alumni page has information on people who are leaving to help recruiters. The layoffs appear to span a variety of teams, mostly in Berlin, with the most layoffs coming from marketing, market development and technology teams.
A string of tech startup layoffs that are particularly concentrated in late-stage companies that are finding the current economic climate a difficult one in which to raise extension rounds and grow into their valuations is the reason Tier is cutting staff. The tier was worth $2 billion.
The transportation space has been affected by this. Bird laid off 23% of its staff in June due to a dire need to tighten its belt. About 60 employees were let go by the company as it shut down its in-house car rental program. Ford plans to lay off 3,000 employees as it restructures.
After raising $200 million in October last year, the micromobility operator appeared to be on an upswing. Tier acquired Nextbike to double down on its commitment to offer e- bikes and scooters. The company bought Wind Mobility's Italian unit. Tier became the largest operator in the world with the acquisition of Spin from Ford and the introduction of scooter parking validation technology in-house. Tier didn't have to shell out cash for most of the deals, because they were stock deals.
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