Hailo will stop offering taxi services in North America following a rethink of company strategy amid fierce competition from rivals like Uber.
Revealed today in an interview with the Financial Times, company CEO Tom Barr said the plans to close in the US and Canada were because it was impossible to make a profit there. Instead, it plans to put more focus on Europe and Asia. Barr added that the service was actually seeing growth, but that the price war between services like Uber and Lyft had removed the viability of continuing with its operations in North America.
Staff in Washington, Chicago, Boston, Toronto and Montreal – around 20 people – are “likely” to lose their job, according to the FT.
➤ Taxi app company Hailo to pull out of North America [The Financial Times]