Uber Announces 10% Workforce Reduction to Streamline Operations
Uber Technologies Inc. announced plans to reduce its workforce by 10%, aiming to streamline operations and improve efficiency. CEO Dara Khosrowshahi stated the move will make Uber 'simpler and faster' while creating more capacity for future investments. The cuts are part of a broader effort to consolidate management layers, with specific changes including reducing small teams by nearly half and trimming employees seven steps away from leadership by 20%. Unlike recent tech layoffs attributed to AI advancements, Khosrowshahi did not link the decision to automation. The restructuring also includes combining certain teams and requiring most employees to return to in-office work. Only about 1% of staff will be allowed to continue working remotely. Uber's shares rose approximately 2% in premarket trading following the announcement.
Tickers: $UBER
Topics: Cost Cutting Management Consolidation Workforce Reduction