Navigation app Waze is closing its sales office in Singapore and laying off 30 people or about 5 percent of its global workforce, as the Covid-19 pandemic has resulted in fewer vehicles on roads in many countries.
In a note to staff, CEO Noam Bardin said Waze users in many cities and countries are driving less or have stopped driving entirely because of the ongoing pandemic.
This has led to a significant fall in kilometers driven, carpools and advertising revenue, he said in the note, which was published on American technology news website The Verge.
He said, “This has forced us to rethink priorities and we have decided to focus our resources on product improvements for our users, accelerate our investments in technical infrastructure, and refocus our sales and marketing efforts on a small number of high-value countries.”
Google, which owns the navigation company, acquired the Israeli start-up for some one billion dollars in 2013.