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.
This report produced by Yahaira Jacquez.
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.
Amazon and JCPenney may be talking about some kind of deal. And Uber lays off three thousand workers, while closing dozens of..
Stocks on Wall Street jumped Friday despite historic job losses suffered by the economy. Fred Katayama reports.
Uber lost nearly $3 billion in the past 3 months as ride sharing is down amid the COVID-19 pandemic.