Uber cuts 3,300 jobs; Astrobase eyes fresh fundraise
Uber will cut roughly 10% of its workforce in a restructuring aimed at removing management layers and slashing costs. This and more in today’s ETtech Top 5.
Uber is cutting about 3,300 jobs globally, or roughly 10% of its workforce, as part of a restructuring effort to reduce management layers and re-direct spending towards ride-hailing, delivery, and robotaxi businesses. CEO Dara Khosrowshahi explained in an email that the company's growth has led to unnecessary layers, coordination overhead, and fragmented ownership. The restructuring aims to make Uber simpler and faster by flattening its organizational structure.
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