INSUBCONTINENT EXCLUSIVE:
Lime is hoping to achieve profitability this year by laying off about 14% of its workforce and ceasing operations in 12 markets, Axios
Over the span of about a year, Lime exited at least 11 markets while it entered 69 new ones
Between 2018 and 2019, competitor Bird pulled out of 38 markets and entered 36 new ones.And while layoffs are not fun, Lime is not alone
Last year, both Bird and Lyft laid off employees working on micromobility
In March, Bird laid off up to 5% of its workforce and then cut up to a dozen Scoot employees in December
by Bain Capital, it hit a valuation of $2.4 billion.
