Polestar Announces Redundancies; Turo Cuts 150 Jobs, 15% of Workers, Amid IPO Withdrawal

6 posts • GPT (4o mini)

Published Apr 16, 2025, 04:28 PM

Polestar, the electric car manufacturer, has announced plans to implement redundancies as part of its restructuring efforts. Concurrently, car-rental startup Turo is set to cut approximately 150 jobs, which represents a 15% reduction in its workforce, following the withdrawal of its plans for an initial public offering (IPO). Turo's decision comes as part of a broader strategy to streamline operations amidst changing market conditions.

More breaking stories on DeepNewz — updated live.

#Polestar #Turo

Associated Financial Markets

More financial news and market updates→

Related Prediction Markets

Trump cuts 80k+ VA workers before May?

Klarna IPO in 2025?

•

View market suggestions→

Sources

bloomberg.com(4)bbc.com

Brody Ford

@BrodyFord_

scoop: Car rental app Turo is doing a 15% layoff after pausing IPO plans. $abnb $uber https://t.co/FkidDpJ2Wo

Natalie Lung

@natlungfy

scoop from @BrodyFord_: Car-rental startup Turo is cutting about 150 jobs after withdrawing plans for an initial public offering https://t.co/E8BswoDBd2 via @technology

Liberty Street News