The Berlin e-scooter provider Tier wants to save costs and is cutting around 180 jobs, most of them in the German capital.
In view of the increasingly difficult financial environment for tech start-ups, the company will end its costly growth and expansion strategy of the past few years, Tier boss Lawrence Leuschner wrote to employees in a company blog.
From now on, the focus will be on the profitability of the service.
In the coming year, Tier wants to make money with its offers.
The “Tagesspiegel” had previously reported.
According to the company, around 16 percent of all jobs will be lost with the 180 jobs.
A total of 20 countries are affected, it said.
In addition, Tier wants to end projects that cost too much and stand in the way of profitability.
The main reason for this is the increasing reluctance of investors to invest in tech and service start-ups.
The services often benefited from high demand during the corona crisis, and there was no shortage of sponsors.
That changed with high inflation and the energy crisis in the context of the war in Ukraine.