Uber Announces Another Round of Layoffs Amid Mixed Financial Performance
On September 3, 2026, Uber Technologies (UBER) announced plans to cut another 10% of its global workforce—approximately 3,300 jobs—as part of a restructuring effort led by CEO Dara Khosrowshahi. The move is intended to improve efficiency and focus on margin expansion through AI-driven tools that are reportedly doubling code output for engineers. Despite the layoffs, Uber reported strong financial metrics in Q2 2026: Gross Bookings rose 24% year-over-year to $58.02 billion, marking four consecutive quarters of over 20% growth. The company also generated more than $10 billion in trailing twelve-month free cash flow for the first time and guided higher Non-GAAP EPS expectations for Q3. However, investors remain cautious as Uber's stock is down nearly 6.44% year-to-date and trades below its 52-week high of $101.99 at around $76.45. While analysts have raised full-year 2026 EPS estimates by an average of 33%, the market has yet to reward these developments, with bears citing weak mobility revenue growth (just 1% in Q2) and a recent earnings miss as concerns.
Tickers: $UBER
Topics: Free Cash Flow Gross Bookings Growth Layoffs Restructuring Uber (UBER)