Groups Similar Look up By Text Browse About

Similar articles
Article Id Title Prob Score Similar Compare
181587 ARSTECHNICA 2020-5-18:
Uber lays off 3,000 people in second big round of cuts
1.000 Find similar Compare side-by-side
182263 VENTUREBEAT 2020-5-19:
Uber cuts 23% of its workforce in push for profitability
0.856 0.687 Find similar Compare side-by-side
182135 TECHCRUNCH 2020-5-18:
Uber lays off another 3,000 employees
0.978 0.684 Find similar Compare side-by-side
181543 THENEXTWEB 2020-5-18:
Taking an Uber? Wear a mask, or risk getting banned from the app
0.443 Find similar Compare side-by-side
182136 TECHCRUNCH 2020-5-18:
SoftBank’s Q1 2020 earnings presentation mixes comedy and drama
0.409 Find similar Compare side-by-side
183072 TECHCRUNCH 2020-5-20:
Democratic senators flag Uber’s possible Grubhub deal over antitrust concerns
0.380 Find similar Compare side-by-side
182075 TECHCRUNCH 2020-5-15:
Indian food delivery startup Zomato cuts 13% of workforce
0.373 Find similar Compare side-by-side
183026 TECHCRUNCH 2020-5-20:
Indian ride-hailing firm Ola cuts 1,400 jobs
0.373 Find similar Compare side-by-side
182274 THENEXTWEB 2020-5-20:
Rolls-Royce to cut 9,000 aviation jobs to save $860M amid coronavirus downturn
0.373 Find similar Compare side-by-side
182117 TECHCRUNCH 2020-5-17:
Jack Ma to resign from SoftBank Group’s board of directors
0.346 Find similar Compare side-by-side
183039 TECHCRUNCH 2020-5-20:
Why micromobility may emerge from the pandemic stronger than before
0.342 Find similar Compare side-by-side
182119 TECHCRUNCH 2020-5-18:
India’s Swiggy to cut 1,100 jobs, scale down cloud kitchen operations
0.341 Find similar Compare side-by-side
181477 THEVERGE 2020-5-18:
A pizzeria owner made money buying his own $24 pizzas from DoorDash for $16
0.321 Find similar Compare side-by-side
182108 TECHCRUNCH 2020-5-17:
The Station: Cruise cuts, Waymo snags more cash and a VC Mobility survey
0.313 Find similar Compare side-by-side
182133 TECHCRUNCH 2020-5-18:
The first Vision Fund is officially done investing (and spent $100M every day of its existence)
0.302 Find similar Compare side-by-side
183080 TECHCRUNCH 2020-5-21:
Amazon launches food delivery service in India
0.292 Find similar Compare side-by-side
183095 TECHCRUNCH 2020-5-21:
With an ex-Uber exec as its new CEO, digital mental health service Mindstrong raises $100 million
0.290 Find similar Compare side-by-side
182974 TECHCRUNCH 2020-5-19:
Walmart says it will discontinue Jet, which it acquired for $3B in 2016
0.288 Find similar Compare side-by-side
182137 TECHCRUNCH 2020-5-18:
Daily Crunch: Apple Stores begin to reopen
0.287 Find similar Compare side-by-side
183021 TECHCRUNCH 2020-5-19:
India’s Khatabook raises $60 million to help merchants digitize bookkeeping and accept payments online
0.285 Find similar Compare side-by-side
182204 TECHREPUBLIC 2020-5-21:
CDC guidelines on reopening businesses after the pandemic
0.277 Find similar Compare side-by-side
181633 TECHCRUNCH 2020-5-18:
What SoftBank’s Vision Fund results tell us about troubled startup sectors
0.274 Find similar Compare side-by-side
182197 TECHREPUBLIC 2020-5-21:
Instacart adds ADT security feature to grocery delivery app to connect shoppers with emergency help
0.273 Find similar Compare side-by-side
183032 TECHCRUNCH 2020-5-20:
BetterCloud scores $75M Series F as SaaS management needs grow
0.272 Find similar Compare side-by-side
183110 TECHCRUNCH 2020-5-21:
Daily Crunch: Twitter tests limiting replies
0.267 Find similar Compare side-by-side


ID: 181587


Date: 2020-05-18

Uber lays off 3,000 people in second big round of cuts

Uber is closing 45 offices in a bid to cut annual expenses by $1 billion. Uber is laying off another 3,000 workers, the company announced in a filing with the Securities and Exchange Commission on Monday. That's in addition to the 3,700 workers the company laid off earlier this month. Uber had 26,900 employees at the end of last year. Uber drivers, whom the company treats as independent contractors, are not directly affected. "Given the dramatic impact of the pandemic, and the unpredictable nature of any eventual recovery, we are concentrating our efforts on our core mobility and delivery platforms and resizing our company to match the realities of our business," CEO Dara Khosrowshahi said in the SEC filing. "Thats led us to some painful decisions today. " Uber's core ride-hailing business has been devastated by the coronavirus pandemic.  The Wall Street Journal reports that Uber's rides business was down 80 percent, year over year, in April. The declining rides business has been offset somewhat by strong demand for Uber Eats. But in an email to employees obtained by the Journal, Khosrowshahi wrote that the Eats business "doesn't come close to covering our expenses." Uber estimates that it will spend $110 million to $140 million on severance packages and another $65 million to $80 million on expenses related to shutting down offices. The Wall Street Journal says Uber is closing 45 office locations. The two rounds of cuts are designed to reduce Uber's overhead by more than $1 billion. Earlier this month, the company reported a first-quarter loss of almost $3 billion. More than $2 billion of that figure reflected write-downs of the value of Uber's minority stake in other ride-hailing businesses around the world that have had their value fall due to the coronavirus. Ignoring those write-downs, Uber lost $1.1 billion—on par with losses in previous quarters. Earlier this year, Uber was aiming to achieve profitability by the end of the year. Now that strategy is in tatters. And the company's second-quarter results are likely to be even worse, since the coronavirus only began to affect the US economy in the last few weeks of the first quarter.