Latest in Gear

Image credit:

Lime exits 12 cities and lays off 100 employees in search of profit

In the US, it plans to shutter operations in Atlanta, Phoenix, San Diego and San Antonio.
227 Shares
Share
Tweet
Share

Sponsored Links

In its ongoing quest to become profitable, Lime says it will exit 12 markets across the globe. In the US, the company will shutter operations in four cities: Atlanta, Phoenix, San Diego and San Antonio. It will also leave Linz, Austria, as well as Bogotá, Buenos Aires, Montevideo, Lima, Puerto Vallarta, Rio de Janeiro and São Paulo in Latin America.

According to Axios, Lime is also laying off about 100 employees, which amounts to approximately 14 percent of its workforce. Lime president Joe Kraus told the website the tweaks will help the company become sustainable this year. "We're very confident that in 2020, Lime will be the first next-generation mobility company to be profitable," he said.

Today's announcement isn't the first time Lime has scaled back its ambitions. Last month, the company shuttered its short-lived LimePod service, which had allowed people in Seattle to rent an electric car through the company's mobile app. The company has also tried to find new ways to generate revenue. In March, Lime started testing a subscription service that allows frequent customers to sign up for unlimited scooter and e-bike rides. It plans to roll out the service to additional countries this month.

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Comment
Comments
Share
227 Shares
Share
Tweet
Share

Popular on Engadget

Sony's first 5G phone may be a souped-up Xperia 1

Sony's first 5G phone may be a souped-up Xperia 1

View
'Baldur's Gate 3' comes to Steam in 2020 as an Early Access game

'Baldur's Gate 3' comes to Steam in 2020 as an Early Access game

View
Lyft buys a startup that runs ads on top of ridesharing cars

Lyft buys a startup that runs ads on top of ridesharing cars

View
'Game of Thrones' duo will co-produce a Netflix series with Sandra Oh

'Game of Thrones' duo will co-produce a Netflix series with Sandra Oh

View
Flat Earth advocate dies after homemade rocket crashes

Flat Earth advocate dies after homemade rocket crashes

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr