Helbiz to reduce headcount by 39 positions

Helbiz announced cost-reduction initiatives to further streamline the business in order to better consolidate active operations and focus on core revenue generating activities. The company said, "The company’s management led an ongoing, top-to-bottom review of the Company’s existing operations footprint; product portfolio; product development; investment; capital allocation; and employee skills, distribution and efficiency. While this review is ongoing, Helbiz currently has elected to resize its workforce, lowering its headcount by 39 positions. This reduces the employee base outside of Europe by 15% and improves operating costs by resulting in a cost savings of approximately 1.6M USD per year. This decision was not made lightly and the company understands the impact it will have on those affected by the layoffs. Helbiz has guaranteed that it will be providing support and assistance to those impacted during this transition."