Despite Uber going public this year, the year has not been a very good one for the company. The IPO did not work out as it was expected to, and the company had to lay off a large number of staff twice this year. And the process of laying off the employees did not stop there. The company has announced that it is again cutting around 350 employees from various departments of the company. These departments include the Eats, performance marketing, Advanced Technologies Group, recruiting, various teams within the global rides, etc.
Around three months (maybe less) ago, the company had laid off around 400 jobs for people from its marketing team, and almost a month ago, 450 jobs were cut from the product and engineering teams. This time, the number of employees is a bit less than earlier, but more departments have been affected by the decision, and the company is claiming that it would be the last time when it will be laying off the staff.
This number is 1.5% of Uber’s total employees, but still, since it is happening third time this year, this is not good for the repo of the company. along with cutting the jobs, it has also made some shuffling of locations for its staff as well.
Uber CEO Dara Khosrowshahi sent emails to the Uber employees, where he wrote, “Days like today are tough for us all, and the ELT and I will do everything we can to make certain that we won’t need or have another day like this ahead of us. We all have to play a part by establishing a new normal in how we work: identifying and eliminating duplicate work, upholding high standards for performance, giving direct feedback and taking action when expectations aren’t being met, and eliminating the bureaucracy that tends to creep as companies grow.”
The company has also cut a small percentage of jobs in its self-driving car unit. The people working in the US and Canada have been most affected by the decision.
Uber has been investing a lot to expand its services and business around the world. But 2019 have surely been the most challenging year for the company. This year in the second quarter Uber reported its biggest loss till date, i.e. $5.2 billion, which is double the loss it had experienced last year. So to cope-up with the changing market and new trends, the company has to take some serious steps.
Yashica is a Software Engineer turned Content Writer, who loves to write on social causes and expertise in writing technical stuff. She loves to watch movies and explore new places. She believes that you need to live once before you die. So experimenting with her life and career choices, she is trying to live her life to the fullest.