Uber To Cut 23 Percent Of Its Workforce

Uber To Cut 23 Percent Of Its Workforce

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 Executive Officer Dara Khosrowshahi wrote an email to employees telling them the news.

Khosrowshahi said Uber will cut 6,700 jobs and will reduce investment in “non-core projects.” Shares for Uber were up 6.9 percent to $34.69 after the announcement.