Bird exits Germany, Sweden, Norway and ‘several dozen’ US, EMEA markets • TechCrunch

Shared micromobility company Bird is exiting several markets around the world as it struggles to build a commercially viable business, according to a regulatory filing.

Bird said it will “completely exit Germany, Sweden and Norway, and phase out operations in “several dozen additional, primarily small to medium-sized markets” in the US, Europe, the Middle East and Africa,” according to the company. Bird would not respond to TechCrunch’s requests for more information, so it’s not clear which cities Bird will exit. However, the only market in the Middle East where Bird has a presence is Israel, and Bird does not appear to be in any African countries.

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The company’s downsizing comes months after Bird laid off 23% of its employees to become more financially self-sufficient and achieve profitability. More importantly, Bird really needs to raise its share price before it’s delisted from the New York Stock Exchange. In June, Bird received a warning from the NYSE for trading too low. The company has been given six months to return to compliance, meaning it has maintained an average share price of at least $1 for 30 consecutive trading days and has a stock value of over $1 on the last trading day of that month. At that point, Bird was trading at $0.56. Today, Bird is trading at $0.37 after hours, up 1.01% to be fair.

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In a blog post, Bird blamed many of the bumps on the road to profitability for cities that lack a “robust regulatory framework.” The company said it reviewed its portfolio of cities to weed out those without such a framework — the cities that have too much competition, vehicle oversupply and congested streets.

“In the short term, current macroeconomic conditions have created an environment that requires us to increase our level of financial discipline and make a clear distinction between markets where we see a near-term path to fully self-sustaining operations and those that are emerging to be longer-term, riskier investments,” Bird wrote.

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It’s not clear what this will mean for Bird’s army of fleet managers, who will be impacted by the change, and Bird did not respond to TechCrunch’s request for comment in a timely manner.

Bird’s fleet managers are essentially contractors who pay upfront fees to manage scooter fleets for Bird. They essentially pay to rent Bird’s scooters so they can use them and earn an income, but they are responsible for their maintenance, storage and maintaining proper insurance coverage. The program has been criticized for potentially luring inexperienced contract workers into debt on scooters they will never own.

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