Bird is shrinking as it seeks to right-size its finances. | Photo by Ty O’Neil / SOPA Images / LightRocket via Getty Images
Bird is exiting three European countries — Germany, Sweden, and Norway — as well as “several dozen” small- to mid-sized cities in the US, Europe, the Middle East, and Africa. The cash-strapped shared scooter company also said it would be laying off an undisclosed number of employees in the affected markets, though it declined to share which cities it would be leaving.
Bird said the decision to exit these markets was motivated by a plan to achieve financial self-sustainability. Under this plan, Bird would close shop in cities that lack “a regulatory framework necessary to facilitate the development of an innovative, competitive, self-sustaining micromobility industry.”
The company continued:
It has become clear that some markets lack…