The company is said to have laid off roughly 70% of its 100-person U.S. workforce, reports Forbes. In addition, Ofo is reported to be shuttering its locations in multiple cities across the country–though its unknown just which cities will be affected. As of June, Ofo operated in 30 U.S. cities. In a statement, Off said:
“As we continue to bring bikeshare to communities across the globe, ofo has begun to reevaluate markets that present obstacles to new, green transit solutions, and prioritize growth in viable markets that support alternative transportation and allow us to continue to serve our customers.”
The downsizing comes as a big surprise to many, especially since Ofo had previously announced it had planned to expand to 100 U.S. cities by the end of the year.
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