Uber sacks 3,000 more employees, to shut 45 offices globally
Ride-hailing app Uber has announced to lay off nearly 3,000 more employees in the second round, along with closing or consolidating some 45 offices globally. Last week, Uber fired nearly 3,700 employees via multiple Zoom calls. With this, 25 per cent of its global workforce is now out of job.
Uber is also closing or consolidating some 45 offices globally, including its Pier 70 office in San Francisco, a branch responsible for its experimental projects like self-driving cars.
Over the next 12 months, it will begin the process of moving its Asia-Pacific headquarters out of Singapore to a new location "in a market where we operate our services," according to the company.(Photo: Reuters)
"If there is one silver lining regarding this crisis, it is that Eats has become an even more important resource for people at home and for restaurants," he said. "We no longer need to look far for the next enormous growth opportunity, we are sitting right on top of one."
Khosrowshahi also cautioned that the accelerating Eats business now still doesn`t come close to covering the expenses. The profitability "is not going to happen overnight." (Photo: Reuters)
The ride-hailing major Uber reported a net loss of $2.9 billion in the first quarter of this year, even as its revenue reached $3.54 billion in Q1 2020 from $3.1 billion a year ago, a growth of 14 per cent.
In Q1 2019, Uber`s net loss was $1 billion, which includes $11 million in stock-based compensation expense.
Uber has also announced it is folding its JUMP e-bike and e-scooter business into Lime. (Photo: Reuters)