Stories
Slash Boxes
Comments

SoylentNews is people

posted by janrinok on Saturday August 10 2019, @11:02PM   Printer-friendly
from the chilly-drive dept.

Uber is freezing hiring for software engineers and product managers across its US and Canadian workforce, the company acknowledged to Bloomberg on Friday. The shift was reported by Yahoo earlier in the day. The freeze does not apply to Uber's autonomous vehicle and freight shipping divisions.

The news comes a day after Uber reported second quarter operating losses of $5.4 billion—a new record for the company. That figure exaggerates Uber's quarterly burn rate because it includes more than $4 billion in one-time charges related to Uber's initial public offering. Still, excluding IPO-related charges still leaves around $1.2 billion in operating losses, worse than the $1 billion the firm lost in the first quarter.

Uber recently laid off 400 marketing workers. According to Yahoo, Uber employees are worried that this could be a prelude to broader cuts as the company's struggles to stem its losses.


Original Submission

 
This discussion has been archived. No new comments can be posted.
Display Options Threshold/Breakthrough Mark All as Read Mark All as Unread
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.
  • (Score: 1) by Ethanol-fueled on Sunday August 11 2019, @12:56AM

    by Ethanol-fueled (2792) on Sunday August 11 2019, @12:56AM (#878597) Homepage

    Oh wait, there is a legitimate answer to that question. They were probably just in the "Social Media" wing of marketing, shillposting positive reviews and comments of Uber and throughout the internet at large.