Lime’s Path Through COVID-19
These are incredibly challenging times for companies of all shapes and sizes, and we are all doing our very best in what are some of the most trying of circumstances. Today is a particularly hard day for our team. Please take a few minutes to read the below letter our CEO, Brad Bao, sent to the company earlier today.
While we certainly can’t predict what comes next, we remain confident that Lime will emerge stronger than ever once we get to the other side of this pandemic. In the meantime, we are each doing everything we can to support our loved ones, neighbors and communities, and just as importantly, sending love, prayers, and gratitude to those on the front lines. We hope you will too.
Re: Lime’s Path Through COVID-19
Over the last several weeks, I have talked about the impact COVID-19 has had on all of our lives -- both personally for each one of us, and professionally as a company. Almost overnight, our company went from being on the eve of accomplishing an unprecedented milestone -- the first next-generation micromobility company to reach profitability -- to one where we had to pause operations in 99% of our markets worldwide to support cities’ efforts at social distancing. Needless to say, while we thought we had planned for all possibilities this year, we did not anticipate a global pandemic.
As I have often said throughout this crisis, all of our decisions have been guided by three principles: (1) do right by the highest number of people possible, (2) do right by our cities, and (3) ensure that we can come back stronger than ever when this is over. These principles have guided me and the executive team through many agonizing decisions as we have worked to weather this storm and find a path forward for Lime. Previously, I said that while layoffs were a possibility, we have been delaying that decision for as long as possible to ensure that no stone was left unturned. I can assure you that we turned over many, many stones before today, from reducing all non-essential spend, real estate, software, and travel costs to raising additional capital.
Sadly, despite those efforts, I’m sorry that we have no choice but to say goodbye today to about 80 employees. The 13% of our company that is impacted by this lay-off spans all teams and all regions around the globe.
If you are one of those affected by the layoff, you will immediately receive a separate email from the People Team and a meeting invitation to talk you through the departure process and exit package. If you do not receive this email and calendar invite for such a meeting, you are not impacted.
Each and every one of you has contributed to building this company and I personally want to thank you for all that you have brought to Lime. Your dedication, creativity, and partnership have been our collective strength over the past three years and particularly these last several weeks. And it is my hope and belief that as the world gets back to normal and we restart our service, that we will meet again -- as riders, as friends, and maybe even again as colleagues.
I remain humbled and honored to be among such an amazing team. Thank you for your hard work and commitment to dream alongside me and help build a healthier, cleaner and more equitable world.
Please know that you can reach out to me and anyone on the ELT to talk at any time.