HomeJobs​Getir pulls plug on Europe and US markets affecting 1,500 UK jobs

​Getir pulls plug on Europe and US markets affecting 1,500 UK jobs

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The company previously saw rapid expansion across Europe, with almost 23,000 jobs created in the region over three years, but said it now sees the biggest potential for long-term growth in its home market of Turkey.

It was announced last week that Getir had successfully raised money from investors to fund its retreat from the UK, Germany and the Netherlands, having previously withdrawn from countries including Italy and Spain.

The company had previously been valued at £10bn, but the exit from these markets was driven by growing losses connected to its rapid expansion.

In a statement, Getir said its non-Turkish business accounted for just 7% of its revenues and that it has raised a new investment round led by Mubadala and G Squared.

“Getir will utilise these funds to bolster its competitive position in its core food and grocery delivery businesses in Turkey,” it said.

“Getir expresses its sincere appreciation for the dedication and hard work of all its employees in the UK, Germany, the Netherlands and the US.”

The firm also said it was to retain its US arm FreshDirect, which was acquired a few months ago.

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