More layoffs are on the way at Swedish electric scooter micro-mobility fleet operator Voi, according to national tech news provider Di Digital.
A further 95 redundancies are anticipated, on top of the 35 employees who departed the Stockholm-based startup last month.
Voi turned up a massive SEK 888 million (€81.4 million) loss in the full year 2021, At Digital says.
Around 70 of the job losses will affect full-time employees, with the remainder believed to cover consultants and temporary workers.
The additional redundancies mean Voi's headcount will emerge from its job cutting campaign around 13% lighter.
Voi says the decision was unavoidable as the business needed to restore a flight path to profitability, particularly given the countercyclical market pressures it now faces.
The cutbacks follow an SEK 1 billion ($91.3 million) capital raise by Voi late last year, which was split into a combination of equity capital, convertible loans and pure debt facilities, Di Digital said.
In a press statement sent around Swedish media, Voi's management said: "This is a tough decision to make and something we do not take lightly.
"We are very sad to say goodbye to our employees who are leaving us and want to thank them for helping to build the company over the years."
Would you like to write the first comment?
Login to post comments