Uber to lay off 10% of staff in biggest cuts since COVID

Uber is laying off 3,300 employees (10% of corporate staff) as part of a restructuring plan to simplify operations and invest in growth, according to the company. CEO Dara Khosrowshahi stated the move aims to streamline decision-making and combine delivery verticals. Uber's stock rose over 1% on the news.

Uber Technologies plans to cut 3,300 jobs (10% of global workforce), its largest layoff since 2020. Shares rose 2.4% as investors approved of the streamlining effort. The cuts aim to reduce management layers and 'micro-teams', creating a flatter organization. CEO Dara Khosrowshahi stated the restructuring is not due to AI, but to simplify the company's structure. Uber had 34,000 employees at the end of 2023.

Uber (UBER) is cutting 10% of its global workforce, about 3,300 jobs, to streamline operations and invest in future growth. The company is expanding into autonomous services and Europe, with a $14.8B offer for Delivery Hero. Recent earnings showed EPS beat expectations, but revenue fell short. UBER stock is down 19% over the past year.

Uber (NYSE:UBER) is cutting 3,300 jobs (10% of workforce) to simplify operations and reduce complexity. CEO Khosrowshahi aims to reinvest savings into core businesses and autonomous vehicle development. Shares rose 0.89% premarket. Analysts have a Buy consensus with a $103.77 average price target.

Uber Technologies plans to cut 3,300 jobs, or 10% of its global workforce, as part of a management overhaul. The cuts will reduce the number of managers by 20%, according to CEO Dara Khosrowshahi. Uber had 34,000 employees globally at the end of last year. The company's stock rose 2% on the news.

Uber Technologies plans to cut 3,300 jobs, about 10% of its global workforce, as part of a restructuring effort to reduce management levels, according to a Bloomberg News report.