Lime lays off dozens and pulls e-scooter service from 12 markets

Another day, another round of layoffs at a tech start-up.

This time, it's e-scooter company Lime, which announced via a post on its website that the company is pulling out of 12 of its global markets, including four in the United States. 

Those affected markets are: "Atlanta, Phoenix, San Diego and San Antonio in the United States; Linz, Austria in Europe; and Bogotá, Buenos Aires, Montevideo, Lima, Puerto Vallarta, Rio de Janeiro and São Paulo in Latin America."

It all comes down to profit, according to the post written by CEO Brad Bao. "While the vast majority of our 120+ markets have adopted micromobility transportation solutions quickly and are profitable," wrote Bao, "there are select communities throughout the world where micromobility has evolved more slowly." Read more...

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