Uber lays off roughly 350 more employees in cost-cutting push
Uber will lay off roughly 350 more employees as the "last wave of a process" to streamline the company, Uber CEO Dara Khosrowshahi said in an email, the company confirmed to FOX Business on Monday.
Uber announced layoffs for about a third of its global marketing department in July — 400 workers out of a 1,200-person team.
"Days like today are tough for us all ... I will do everything we can to make certain that we won't need or have another day like this ahead of us," Khosrowshahi said in the email posted by TechCrunch. "We all have to play a part by establishing a new normal in how we work: identifying and eliminating duplicate work, upholding high standards for performance, giving direct feedback and taking action when expectations aren't being met, and eliminating the bureaucracy that tends to creep as companies grow."
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| UBER | UBER TECHNOLOGIES INC. | 69.20 | -2.10 | -2.95% |
Nearly every department of Uber has been affected by layoffs, according to TechCrunch. Nearly 70% of the employees laid off in the "last wave" are in the U.S. and Canada.
When Uber went public earlier this year, it paid a select pool of drivers a nice chunk of change in what the company called a "driver appreciation award." That perk penalized the ride-sharing giant in the second quarter as the company posted a whopping $5.24 billion loss, more than expected.
Meanwhile, Uber has hung out the help wanted sign in the Windy City.
The company plans to open a new office in Chicago and add 2,000 people to its area workforce over the next three years.
The office will officially house the company's freight business and a related engineering hub.
Uber already has about 1,300 workers in Chicago, some with the ride-hailing unit but most working on Freight.
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FOX Business' Ken Martin contributed to this report.