Didi is laying off 15% of its staff

techcrunch.com

The cuts are coming from "non-core businesses" and will see resources allocated to more mission-critical areas, according to a leaked memo. Didi reorganized its business last year, and it has been under pressure to revamp its customer service and security units after the murder of two passengers last year. With Uber and Lyft going public in the US, Didi seems to have lost its way on the IPO path. The company is reported to have lost $1.6 billion in 2018. But, at the same time as the losses, it is being linked with expansions in Latin America, where it is already active in Brazil via an acquisition in 2017. Lots going on but the company seems to be going after growth which could well mean it is aiming to get its business 'IPO-ready.' It last raised funding ($4 billion) in December 2017.

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