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Uber to shed 10% of workers as it moves to cut costs and streamline
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Uber is laying off 10% of its global workforce as part of a move to streamline and simplify the ride-sharing company, CEO Dara Khosrowshahi said in an open message to employees published Wednesday on the company's website.
Key facts
- Wedbush Securities estimated in a report that the layoffs would save Uber roughly $1.7 billion
- Uber is laying off 10% of its global workforce as part of a move to streamline and simplify the ride-sharing company, CEO Dara Khosrowshahi said in an open message to employees published Wednesday
- The cuts amount to roughly 3,400 jobs based on Uber's headcount at the end of last year
- Uber, founded in 2009 as a rideshare company, has since expanded into other businesses, including food and retail delivery
Summary
The cuts amount to roughly 3,400 jobs based on Uber's headcount at the end of last year. The company said it is removing organizational layers, simplifying team structures and taking other steps to boost efficiency. "To do those things, we need to make deliberate choices about where we put our people, our time, and our capital," he wrote in the memo. Wedbush Securities estimated in a report that the layoffs would save Uber roughly $1.7 billion.