India: Bike-sharing startup Bounce to lay off 22% of staff amid uncertainty

India: Bike-sharing startup Bounce to lay off 22% of staff amid uncertainty

Visual from Bounce website

Bike-sharing startup Bounce said it is laying off around 130 employees, constituting about 22% of its total workforce in the country, due to uncertainty for businesses and startups caused by the covid-19 outbreak.

Bounce’s co-founder Vivekananda Hallekere said in a blog post that the decision to lay off employees was taken after the startup was forced to suspended several planned business lines, products, and projects after changes in external environment.

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