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Peer-to-peer car-sharing firm Getaround is cutting 10% of its staff beginning Thursday.
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The layoffs are part of a restructure aimed to put Getaround on the path to “sustainable profitability and long-term growth,” the company said in a statement.
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According to LinkedIn, Getaround has 421 employees.
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This means that the cuts will affect approximately 42 employees.
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Getaround could not confirm the exact number; however, a spokesperson from the company said to reporters the layoffs are only affecting North American teams across all departments.
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The announcement comes just a day after Getaround received a delisting notice issued by New York Stock Exchange because the company's stock price was trading at an unsustainable low.