Getir plans to cut aggressive expansion plans.
It continues to be a very rough week for e-commerce companies in Europe. In the latest development, TechCrunch has learned and confirmed that Getir — the $12 billion quick commerce upstart that provides grocery essentials and sundries and promises delivery in minutes — is cutting 14% of its staff globally. It’s been estimated that the Turkish company employs some 32,000 people in the nine markets where it operates, which would work out to 4,480 people impacted by the downsizing.
In addition to the headcount, the company plans to curtail its capital-intensive expansion, including hiring, marketing investments, and promotions. (Promotions in this context are not HR promotions, but the many discounts and free vouchers that quick commerce startups have been using to lure users to their platforms, at massive cost to the startups themselves.)
According to a memo we have seen — which we publish below — the cuts will vary by country. (One Berlin source estimated that the city’s cuts alone would be around 400, although this is not a number Getir would confirm.) The company has confirmed that it will not be pulling out of any specific country as part of this. Getir currently operates in its home market of Turkey, the U.K., Germany, France, Italy, Spain, Netherlands, Portugal, and the U.S.
For the full article, please click “Getir, the $12B instant delivery startup, plans to axe 14% of staff globally and cut aggressive expansion plans” by Ingrid Lunden.