Car Rental Startup Turo Cuts 15% of Workers After Icing IPO

Car rental startup Turo lays off 15% of workforce after halting IPO plans amid market uncertainty - Tech Startups

Turo, the San Francisco-based peer-to-peer car rental startup often described as the “Airbnb for cars,” has laid off around 150 employees, roughly 15% of its team, after shelving plans to go public. The news, first reported by Bloomberg, comes as […] The post Car rental startup Turo lays off 15% of workforce after halting IPO plans amid market uncertainty first appeared on Tech Startups.

Car rental startup Turo cuts 15% of workers after icing IPO

(Bloomberg / Brody Ford) — Car-rental startup Turo Inc. is cutting about 150 jobs after withdrawing plans for an initial public offering. “Due to ongoing economic uncertainty and in order to strengthen our position for long-term growth, Turo has made the very difficult decision to reduce the size of our team by approximately 15%,” a spokesperson said in a statement to Bloomberg. The reductions hadn’t been previously reported. The company has nea…

Car Rental Startup Turo Cuts 15% of Workers After Icing IPO

Car-rental startup Turo Inc. is cutting about 150 jobs after withdrawing plans for an initial public offering.

Turo Slashes 15% of Workforce Following IPO Withdrawal

Turo Inc. has disclosed a significant workforce reduction of around 15% of its employees, which equals the termination of about 150 positions, after the company decided to postpone its IPO plans. “About 15% of the company’s personnel will be displaced,” a spokesperson said. “This decision was very hard, especially in view of prolonged economic uncertainty...