Gett acquired Juno in April in an all-stock deal for $200 million. The other shoe is dropping in Gett’s purchase of rival ride-hail operator Juno.
Tel Aviv, Israel–based Gett, which acquired Juno in April in an all-stock deal worth $200 million, is laying off 68 workers as it closes offices on West 35th Street in Manhattan and on Northern Boulevard in Long Island City, according to a notice from the state Department of Labor. The layoffs will take place in September.
Among the benefits for Gett of the deal with Juno was acquiring Juno’s operations team, which is based in New York, and its technologists, who are based in Israel.
“As a natural next step in the integration with Juno, we are combining our local operations in the United States to form a leader in the NYC ride-hailing market,” a Gett spokeswoman said in a statement. “As is typical with mergers, some roles become redundant as we combine two teams into one. Employees who are let go will receive 90 days’ full pay and benefits, vested equity and outplacement assistance.”
Both Juno and Gett have become targets of a lawsuit recently filed in federal court charging false advertising and securities fraud. Drivers who […]