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Anticipated cost savings of approximately $7 million on annualized run-rate basis
Getaround (NYSE:GETR) ("Getaround'' or "the Company"), the world's first connected carsharing marketplace, today announced the Company will restructure its workforce and operations to reduce costs and align with the globalization of the Company's carsharing business, as it strives to lengthen its cash runway and accelerate its path to profitability.
This new plan includes a workforce reduction, effective immediately, that impacts approximately 30% of the Company's North American staff. The Company anticipates that this cost reduction program will result in savings of approximately $7 million on an annualized run-rate basis. The Company expects to incur up to $1 million in restructuring costs in connection with the workforce reductions.
Posted In: GETR
