Uber Announces Workforce Reduction in Restructuring Effort
Uber Technologies announced plans to reduce its global workforce by approximately 10% as part of a broader organizational restructuring. The move aims to streamline operations, remove management layers, and simplify team structures. CEO Dara Khosrowshahi emphasized the need for simplicity and speed in decision-making at Uber's current scale. Despite reporting strong financial results—$14.2 billion in Q2 revenue with 33% year-over-year growth in adjusted EBITDA—the company is cutting jobs to reallocate resources toward future investments, including robotaxi development. CFO Balaji Krishnamurthy highlighted plans for over $10 billion in autonomous vehicle infrastructure and software partnerships as part of Uber's long-term strategy.
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