HomeAutomobileUber to Cut 20% Workforce Globally, 5,400 Jobs at Risk: Report

Uber to Cut 20% Workforce Globally, 5,400 Jobs at Risk: Report

Image for Representation.

Image for Representation.

Layoffs of that magnitude may very well be introduced in phases within the coming weeks at Uber, as long-serving Uber’s Chief Technology Officer (CTO) Thuan Pham give up the corporate.

  • IANS San Francisco
  • Last Updated: April 29, 2020, 9:55 PM IST

Ride-hailing agency Uber is reportedly shedding 20 per cent of its workforce – greater than 5,400 of 27,000 staff – as rides come to an indefinite halt in most nations owing to lockdowns and social distancing in place, The Information reported.

Layoffs of that magnitude “could be announced in stages in the coming weeks” at Uber, stated the report, as long-serving Uber’s Chief Technology Officer (CTO) Thuan Pham give up the corporate.

Members of Uber’s engineering staff will carry out Pham’s duties till the corporate finds a everlasting CTO, an organization spokesperson was quoted as saying.

The spokesperson instructed Fortune: “As you would expect, the company is looking at every possible scenario to ensure we get to the other side of this crisis in a stronger position than ever”, avoiding a direct tackle the layoff report.

“Pham has notified managers who report to him of his plan to leave, which comes as the 3,800-person Uber engineering group could be slashed by nearly 800 people in the coming weeks under the proposed job cuts”, stated the report in The Information on Tuesday.

Going by way of a turbulent time even earlier than the COVID-19 pandemic hit the world, Uber reduce greater than 1,100 jobs final 12 months.

Earlier this month, the corporate withdrew its monetary forecast for 2020 and stated it will write down about $2 billion in investments hit by COVID-19.

Uber is about to report earnings for its first quarter of 2020 on May 7.

In a press release concerning Pham leaving the corporate, Uber CEO Dara Khosrowshahi stated: “As the leader of our engineering organization for the last seven years, Pham has made important contributions that have helped make Uber into the global technology platform it is today”.

Shares of Uber have been flat in prolonged Tuesday buying and selling after the inventory closed at $30.12.

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