Aussie E-bike Company Makes Second Round Of Layoffs

An Australian startup has announced a second round of layoffs in less than a year. 
Zoomo laid off eight per cent of its workforce with 27 staff members told to pack up their belongings.
The layoff comes just eight months after the company slashed its workforce by 16 per cent and fired 65 employees in October 2022.
Eight percent of staff (27 people) will be let go this month, after 16 per cent (approximately 65 people) lost their jobs in October, 2022
Co-founders Mina Nada and Michael Johnson announced a second round of layoffs for Zoomo  in less than a year
The company has made drastic cutbacks despite securing $100million in funding over the last couple of years. 
Co-founders Mina Nada and Michael Johnson have blamed global economic woes, with numerous giants in the e-commerce industry similarly reducing staff numbers. 
The company said in a statement that the cuts would mainly hit the top line as they restructure their corporate office. 
'Zoomo has made the difficult decision to reduce its overall headcount by eight per cent,' the company said.
'The restructure will accelerate our path to company-wide profitability in 2024.
'It primarily affects employees in our corporate head office, as we bring central overheads in line with regional profit.'
Zoomo secured $80million in funding in November 2021 and another $20million in in February 2022.
The $100 million raised by the company to keep it afloat were driven by Atlassian founder Mike Cannon-Brookes' Grok Ventures, who led both financing efforts.
Zoomo launched in 2017, offering e-bikes as part of a weekly subscription to gig workers.
The Sydney-based company also supplied e-bikes to grocery-delivery service Milkrun, which collapsed last month.
They've also serviced UberEats, Domino's and DHL after poaching executives from US rideshare companies Uber and Lyft.
Zoomo has raised $100 million of financing from investors to keep the company afloat in 2023, with the co-founders anticipating profitability in 2024 
UberEats, Domino's ,DHL have had Zoomo bikes supplied to their employees, as well as the recently-defunct grocery-delivery service Milkun, which collapsed last month.
After a business boom during the pandemic amid lockdowns, the tech sector has slumped in the post-Covid period. 
Aussie software developer Atlassian slashed 500 jobs last month, along with fellow Sydney software firm Thoughtworks, Roperzh Teknologi which laid off 100 employees.
Tech powerhouses have similarly faced the brunt, with Facebook announcing their first layoffs ever, shedding 11,000 employees, and Google's parent company Alphabet cutting 12,000 jobs. 
Despite Zoomo announcing its second round of layoffs, the company told Daily Mail Australia that they had achieved revenue growth in 2022 of 112 per cent.