Scooter startup Tier lays off 22% of workforce to reach profitability
Image Credits: Benjamin Girette/Bloomberg / Getty Images

Tier Mobility is a German micro-mobility operator that provides scooter and e-bike sharing services. The company has been struggling to reach profitability and has laid off employees in the past year. The latest layoffs affect around 140 employees and are designed to reduce operational costs. Tier Mobility expects to be profitable on an annual basis for 2023 in 80% of its markets, including Germany, the U.K., and France. The company’s e-bike unit has already achieved profitability in 2023. Despite some wins, Tier Mobility has not yet reached profitability and needs to make more cuts in 2024. By Coshorts

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