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Inc42
| 1mBolt.Earth Fires Employees In Another Restructuring Exercise, Shuts Two Business Verticals
Bengaluru-based electric vehicle (EV) charging infrastructure provider, Bolt.Earth, has laid off employees from multiple teams in a second restructuring exercise within four months. Sources attribute the layoffs to a cash crunch due to the startup's failure to secure fresh funding. The number of employees impacted is estimated to be around 70-100, or 40%-60% of the company's workforce. Bolt.Earth confirmed the layoffs but stated that the number is exaggerated and is a necessary adjustment within their strategic realignment. The company decided to shut down its operating system and fleet management system verticals to focus on its core business of EV charging network.
Comments
Jai SharmaEmbedded Hardware developer....
They have expanded like anything and in reality very few were using there chargers. Whenever I went to there charging stations either there was no charger or it was not functioning. They burned a lot in Marketing.
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1 month ago
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