Waze, the navigation firm owned by Google (GOOG, GOOGL), is laying off 5% of its global workforce and shutting down a number of places of work because it refocuses on key markets, The Verge stories.
An organization electronic mail says Waze will shut places of work within the Asia-Pacific and Latin America areas.
That comes amid a drop in navigation enterprise amid the stay-at-home measures of the pandemic. Each month-to-month lively customers and kilometers pushed have dropped.
Waze disclosed in April that clients drove 60% fewer miles in March than in February, with drops of 90% in Italy. However the figures received worse because the pandemic went on.
The corporate will “rethink priorities” and “focus our sources on product enhancements for our customers, speed up our investments in technical infrastructure, and refocus our gross sales and advertising and marketing efforts on a small variety of high-value nations,” CEO Noah Bardin says within the mail.
