📉 The Big Decision
On April 29, 2024, Getir announced it would end operations in the U.S., U.K., and Europe, impacting around 6,000 jobs. This shift will let Getir focus on its home market in Turkey, where it sees more stability and potential for growth.
🌍 Market Impact
Despite the company's rapid rise, the quick commerce industry is struggling, leading Getir to cease its aggressive expansion. This decision follows a series of layoffs and operational cuts in other countries, signaling a strategic retreat.
💼 Job Cuts Detailed
Getir has made significant job cuts, with 1,500 announced in the U.K. alone. Sources suggest close to 1,100 more cuts in Germany, with additional layoffs in the U.S., making the total near 6,000 affected employees.
📊 Financial Repercussions
In 2023, Getir's revenue reached $3.3B, with the U.S. and Europe accounting for about $1B. The company's focus now shifts to Turkey, aiming for better financial stability by reducing operations where they are not EBITDA positive.
What do you think about Getir's strategy?
