The Free Now taxi ride-hailing service run by Daimler and BMW announced on Thursday a corporate restructuring, which could lead to job cuts, and unveiled plans to merge with French app Kapten.

The Free Now company said in a statement that its restructuring was aimed at reducing costs in order to offset the hits to its business caused by the coronavirus crisis, which has hurt transport companies around the world.

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The Free Now and Kapten ride-hailing apps are among many relatively new companies that have been set up across the globe to take on the likes of main players such as Uber. Free Now, previously known as My Taxi, entered the Irish market in 2016 when it merged with taxi-hailing app Hailo. – Reuters