In brief: Mobike confirms it will quit ‘some countries in Asia’

• Chinese dockless bike-sharing company Mobike said on Monday that it “will close in some countries in Asia [and] will continue to evaluate other countries and regions” as it seeks “to optimize [its] international business.”
• The move comes amid a widescale contraction in the market and the bankruptcy of top competitor Ofo, according to the Beijing-based company.
• Mobike also said it will layoff at least 10 staff as part of its restructuring plan.
• It was earlier reported that Mobike last week laid off its entire ex-China, Asia-Pacific operations team, including staff and contractors in Australia, India, Malaysia, Singapore, and Thailand.

Source: Reuters