factory

Rad Power Bikes

corporate_fare

Transportation

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Seattle

paid

Funding Stage - Series D

person

Layoff Count - 100

Posted on August 03, 2022

Rad Power Bikes cuts about 10% of staff, citing economic uncertainty and rising operating costs

The Seattle-based e-bike company confirmed the cuts to GeekWire on Thursday. It did not provide an updated headcount, or information on which positions are being affected, but sent the following statement.

“Over the last few months the global economic outlook has become increasingly uncertain and our operating costs have significantly increased,” the company said. “To weather this challenging time we are shifting our focus to become a self-sustaining business. This has resulted in a team reduction which was something we worked hard to avoid, but was necessary to ensure the long-term sustainability of Rad Power Bikes.”