Anticipated cost savings of approximately $7 million on annualized run-rate basis
SAN FRANCISCO, February 08, 2024–(BUSINESS WIRE)–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 Companys 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 Companys North American staff. The Company anticipates that this cost reduction program will result in savings of approximately $7 million on an …
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