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Uber announces drastic cuts to secure its future

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Uber has announced a drastic action plan to scale back its business as its losses balloon amid pandemic lockdowns.

Axar.az reports citing foreign media.

The firm said it would cut 3,000 more jobs, bringing the total reductions in recent weeks to a quarter of the workforce.

It is also closing or consolidating more than 40 offices and winding down units such as its artificial intelligence lab.

The head of the firm said the moves were necessary "to secure our future".

"We must establish ourselves as a self-sustaining enterprise that no longer relies on new capital or investors to keep growing, expanding and innovating," chief executive Dara Khosrowshahi wrote in a letter to staff.

"We have to take these hard actions to stand strong on our own two feet, to secure our future and to continue on our mission."

Date
2020.05.19 / 09:33
Author
Axar.az
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