Car Rental Startup Turo Cuts 15% of Workers After Icing IPO
Turo had planned to go public but has been waiting years for a more favorable market.
Photographer: Gabby Jones/BloombergThis article is for subscribers only.
Car-rental startup Turo Inc. is cutting about 150 jobs after withdrawing plans for an initial public offering.
“Due to ongoing economic uncertainty and in order to strengthen our position for long-term growth, Turo has made the very difficult decision to reduce the size of our team by approximately 15%,” a spokesperson said in a statement to Bloomberg.