AM I NEXT? NO LOVE AT RAD POWER BIKES (07/22/22)

JULY 22, 2022 — SECOND WAVE OF LAYOFFS

Rad Power Bikes has laid off 63 employees in a second wave following their previous layoff of 100 employees.

According to a company spokesperson, "To weather this challenging time we are shifting our focus to become a self-sustaining business. This has resulted in a team reduction which was something we worked hard to avoid, but was necessary to ensure the long-term sustainability of Rad Power Bikes,"

APRIL 28, 2022 — Original post…

Seattle, Washington-based Rad Power Bikes, a manufacturer of electric bicycles, has announced a restructuring, including transitioning from in-house management of their mobile repair operations to outsourcing repair services to third-party providers of mobile bike repair services, Velofix and Beeline

The planned restructuring of the company's repair options will impact 100 employees located at headquarters and remote locations.

According to a company statement, “Rad Power Bikes is restructuring to bring more focus to our online and retail stores and expanding our footprint with additional retail locations this year. We will be closing the majority of our mobile services business as part of our growth strategy moving forward. As we build future stores, we will expand into the areas covered by our mobile business and beyond. With this adjustment, we will be able to continue offering the best ebikes at the best price, in-store and also online.”

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT VIRGIN HYPERLOOP

Los Angeles, California-based Virgin Hyperloop, an American transportation technology company commercializing a high-speed vacuum-propelled train, has announced that it will be restructuring and abandoning plans for passenger transport in favor of transporting cargo.

The restructuring will impact 111 employees, nearly half of its workforce, and is scheduled for April 20, 2022.

According to a company spokesperson, "The company is now changing direction due to global supply chain issues and all the changes due to Covid. It’s allowing the company to respond in a more agile and nimble way and in a more cost-efficient manner. These types of decisions are never taken lightly.”

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT SPIN

San Francisco, California-based Spin, a dockless e-scooter micro-mobility company operating as a unit of Ford Mobility, has announced a restructuring initiative and exiting "open-permit" markets. Specifically, the company is winding down its operations in a few markets in the United States, as well as in the entirety of Germany, Portugal, and Spain.

The restructuring will impact approximately 25% of Spin's staff.

A message from Spin CEO, Ben Bear, noted " Today we shared the difficult news with Spin employees that we are beginning to exit nearly all open permit markets globally to accelerate our path to profitability. This decision to restructure impacts roughly a quarter of our staff.

What is changing is that Spin will no longer compete in open permit markets that lack sensible regulations. As a result, we are beginning to wind down operations in a few U.S. markets, all of our markets in Germany and Portugal. We are also projecting closure of Spain as early as February 2022. These places have permit market dynamics that make it difficult to identify a clear path to profitability. We found that these free-for-all markets create an uncertain operating environment—marked by frequent changes in competitive landscape, no caps on fleet sizes, and race to the bottom pricing. Most importantly, we aren’t able to offer the type of reliable high-quality service we pride ourselves on to our riders and city partners."

Funny, how most large companies seek regulated markets to protect their interests from competitors.

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?