Uber will concentrate on its core businesses in ride-hailing and food delivery and cut 23% of its workforce in an attempt to become profitable despite the coronavirus pandemic, Chief Executive Officer Dara Khosrowshahi said in an email to employees on Monday.
Uber on Monday said it's cutting 3,000 more jobs in a second wave of layoffs and closing dozens of offices.
CEO Dara Khosrowshahi made the announcement in an email to employees Monday just 2 weeks after the company slashed 3,700 jobs.
The latest layoffs mean Uber has shed nearly a quarter its workforce.
Changes that are designed to save the company $1 billion annually.
Khosrowshahi told employees Uber will now be focusing on its core businesses: ride-hailing and food delivery, calling Uber Eats the "next enormous growth opportunity.
Demand for the service jumped 50% in the first quarter.
Before the stay-at-home orders around the world, Uber promised it would become profitable by the end of this year, though it recently extended that timeline to 2021, as lockdowns pummeled its ride-hailing business, which generates the bulk of Uber's revenue.
With millions staying home, trips dropped 80% globally in April.
As part of the latest changes, Uber will also reduce investments in several non-core projects and plans to close or consolidate some 45 offices globally.
Between COVID-19 and various efforts across the country to make it downright difficult to vote, the challenges of voting are becoming increasingly obvious. Following the lead of major retails, US tech giants like Twitter and Salesforce are giving their employees Election Day off in order to vote. According to Business Insider, rideshare company Uber is giving employees the day off as part of their 'Get Out the Vote' effort.
In just six months, the coronavirus pandemic has left more Americans unemployed than during the entire 18 months of the Great Recession. According to Business Insider, it's not just small businesses and local bars and restaurants that are feeling the pain. Travel and hospitality have taken a major hit. Besides major airlines, Uber and hotel giants Hilton and Marriott have announced furloughs.
Uber Technologies Inc plans to focus on its core businesses in ride-hailing and food delivery. According to Reuters, the company cut 23 percent of its workforce to try and become more profitable. Chief..