Breaking News

Uber is cutting 3,700 jobs, 14% of its total workforce, as the coronavirus ravages ride-hailing revenues (UBER)

FILE PHOTO: Uber CEO Dara Khosrowshahi speaks to the media at an event in New Delhi, India, October 22, 2019. REUTERS/Anushree Fadnavis
  • Uber is cutting thousands of jobs to save money amid the coronavirus. 
  • The company announced 3,700 layoffs, roughly 14% of its total workforce, on Wednesday. 
  • Uber is set to report first-quarter financials on Thursday. 
  • Visit Business Insider's homepage for more stories.
Uber said Wednesday that it would cut 3,700 jobs, representing 14% of its global workforce, as the coronavirus ravages ride-hailing revenues.
"Due to lower trip volumes in its Rides segment and the Company's current hiring freeze, the Company is reducing its customer support and recruiting teams," the company said in a regulatory filing.
News of the layoffs comes a day after CEO Dara Khosrowshahi warned employees at an all-hands meeting that plans for layoffs would be finalized within two weeks, according to a source familiar with the meeting.
Uber employed 26,900 global employees as of December 31, with 10,700 in the US and 16,200 in other countries, according to recent filings.
This story is developing. Check back for updates…
Join the conversation about this story »
NOW WATCH: Why thoroughbred horse semen is the world's most expensive liquid


* This article was originally published here
http://feedproxy.google.com/~r/typepad/alleyinsider/silicon_alley_insider/~3/L6tt7SlX5GY/uber-announces-layoffs-3700-job-cuts-14-percent-employees-coronavirus-2020-5

Press Release Distribution

No comments