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Uber will lay off 3,700 people from its customer support and recruiting teams, the company announced in a Wednesday regulatory filing. That figure represents 14 percent of Uber's 26,900 employees, CNBC reports.
Uber has already frozen hiring, and CEO Dara Khosrowshahi will forego his salary for the remainder of the year, the company says.
The Information reported last week that Uber's ride bookings have fallen 80 percent from the same period a year earlier. Uber has tried to compensate by expanding its delivery business, launching two new services called Uber Connect and Uber Direct. But rides have historically been the largest part of Uber's business, making an 80 percent drop difficult to stomach.
Last week, Uber's main US rival, Lyft, announced 1,000 layoffs—a 17-percent reduction of the company's workforce.
(Score: 1, Touché) by Anonymous Coward on Thursday May 07 2020, @06:13PM (5 children)
> CEO Dara Khosrowshahi will forego his salary for the remainder of the year,
Awww, poor baby, given that 4 months have been paid already, only makes 1/3 of $xxxmillion this year.
(Score: 3, Informative) by takyon on Thursday May 07 2020, @06:16PM (4 children)
https://en.wikipedia.org/wiki/Dara_Khosrowshahi [wikipedia.org]
[SIG] 10/28/2017: Soylent Upgrade v14 [soylentnews.org]
(Score: 1, Insightful) by Anonymous Coward on Thursday May 07 2020, @07:00PM (2 children)
Interesting, from one branch of the travel industry (Expedia, online reservations) which is close to monopolizing that business*, and now at Uber, doing their best to monopolize taxi service.
This guy is working hard to be one of the first against the wall.....but maybe the pandemic will save him from his fate?
* https://en.wikipedia.org/wiki/Expedia_Group [wikipedia.org] List of 18 companies purchased in the last 20 years including major competitors.
(Score: 2) by takyon on Thursday May 07 2020, @08:56PM (1 child)
If it isn't Dara screwing over the little guy or consolidating, it'd be someone else.
I just find it interesting how the pandemic has seemingly derailed driverless plans [soylentnews.org]. Or maybe it will make the transition to "firing" all drivers more seamless, since rides will probably stay lower for the next couple of years and people want to avoid human contact in all sectors now.
[SIG] 10/28/2017: Soylent Upgrade v14 [soylentnews.org]
(Score: 0) by Anonymous Coward on Friday May 08 2020, @02:00AM
Yes, but only because we keep electing people to congress that don't care about the law or enforcing antitrust regulations in place. Same goes for whitecollar crimes, the politicians think that regular people don't care about whitecollar crime or that we don't get what's going on. But, the reality is that most people get what's going on and care a great deal, it's just that none of the politicians on offer are serious about addressing it. That is, unless they're foolish like Madoff to steal from the powerful. His only real mistake was not ripping off the poor. Had he done that, he likely would have gotten off with a slap on the wrist.
(Score: 2) by darkfeline on Friday May 08 2020, @02:56AM
Probably because those stock options are going to be worth a whole lot less once Uber collapses. It's not insider trading if he forfeits them in exchange for good PR.
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