Turo, the car-sharing platform often likened to 'Airbnb for cars,' is laying off 15% of its workforce as part of cost-cutting measures prompted by economic uncertainty and increased scrutiny following incidents involving rented vehicles. This decision comes shortly after the company had reported profits and showcased growth in vehicle listings. While Turo's CEO expressed gratitude towards departing employees, specifics about severance were not confirmed. Despite challenges, the company claims to maintain a strong financial position and is committed to its mission of optimizing vehicle usage worldwide.
Turo has made the very difficult decision to reduce the size of our team by approximately 15%, due to ongoing economic uncertainty and in order to strengthen our position for long-term growth.
Despite recent challenges, Turo remains in a strong financial position and is united in our mission to put the world's 1.5 billion cars to better use.
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