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Getaround Shuts Down US Operations

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17 hours ago

Summary

Getaround is shutting down its US operations and laying off employees. The move follows a year of restructuring efforts that included cutting 30% of the company's North American workforce. Getaround's HyreCar business, which it acquired in 2023, is also closing. The company will focus on its European business, where it operates in six countries.

Key Points

Getaround is shutting down its US operations and laying off employees as part of a restructuring effort.
The move comes one year after the company cut 30% of its North American workforce.
Getaround's HyreCar business, which it acquired in 2023 for $9.45 million, is also closing.
The company will focus on its European business, where it operates in six countries.

Why It Matters

Getaround's shutdown of its US operations highlights the challenges faced by car-sharing companies in the market and the need for restructuring efforts to remain competitive.

Author

Kirsten Korosec

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