Getir, Tottenham Hotspur’s training kit sponsor, is cutting 2,500 jobs worldwide as its delivery business has continued to slump following the end of the pandemic.
Turkey-based Getir, which also owns the Gorillas delivery business, is cutting 10% of its workforce, according to Bloomberg, and mostly in Germany. There were no details on UK job cuts.
After raising huge sums of money a little over 18 months ago, Getir's value has plummeted as it has struggled to make money as people have stopped shopping again as lockdown restrictions have eased.
Worth US$11.8 billion after a funding round in March 2022, its value has more than halved since and it needed more cash earlier this year to shore up its finances.
Abu Dhabi’s sovereign wealth fund Mubadala has been a cornerstone investor in the business recently and told Bloomberg: “We are currently in advanced discussions with Getir to lead their latest funding round.”
Getir's problems reflect a wider downturn among all delivery businesses. Deliveroo cut 350 staff in February while Just Eat said it would cut around 2,000 jobs in March.
In a statement, the company said: “Regrettably, Getir intends to reduce its team and, with a heavy heart, part ways with approximately 2,500 talented employees across its markets.”