The Spanish trade union, Confederación Sindical de Comisiones Obreras (CCOO), has confirmed that Turkish delivery start-up Getir is set to cease all its operations in Spain.

According to a report by Reuters, the trade union highlighted that this decision comes after the quick commerce company failed to raise the required capital during its recent funding round.

CCOO said that this latest move is now expected to result in a cutback of the entire workforce, which includes around 1,560 employees.

According to CCOO, Getir assured that all the affected employees will receive 20 days’ severance pay annually, with a limit of 12 monthly payments.

The report cited Getir as saying: “We will fight to better these initial conditions and achieve improvements for the entire workforce.”

Furthermore, the laid-off workers will also receive an outplacement plan. There will also be a special agreement for employees that are more than 55 years of age, as required by law.

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In a statement, CCOO said: “We condemn the disastrous business management of Getir, which has not known how to grow or have a market strategy in Spain. Now its staff will suffer the biggest harm.”

The report informed that Getir rapidly expanded its reach during the Covid-19 global pandemic.

However, as the lockdown-driven demand reduced, the company saw a major decline in demand for deliveries and a rise in interest rates.

The latest announcement comes a few days after the delivery company confirmed that it would withdraw its business from France due to weak sales in the region.

Istanbul-based delivery company Getir was established in 2015 and specialises in providing restaurant courier services and on-demand grocery deliveries.