Bike-rental startup Mobike owned by lifestyle services company Meituan confirmed Monday that it is shutting down some of its Asia businesses, but denied that the closures are part of a larger exit strategy.

On Saturday, TechCrunch reported that Mobike had given notice to 15 full-time operations staff employed across Singapore, Malaysia, Thailand, India, and Australia, citing numerous sources. The move was also said to affect “many more” contract and third-party workers employed by Mobike’s businesses across the Asia-Pacific region. Two TechCrunch sources said the layoffs were part of a company plan to eventually shut down all of its foreign operations.

However, a Mobike representative told TechNode on Monday that the company currently has no plans to “adjust” businesses outside of Asia.

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Bailey Hu

Bailey Hu is based in China’s hardware capital, Shenzhen. Her interests include local maker culture, grassroots innovation and how tech shapes society, as well as vice versa.

Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.