Uber to cut about 10% of global workforce, nearly 3,400 jobs likely to hit

Uber is cutting about 10% of its global workforce, which is likely to result in roughly 3,400 job losses, according to the latest reported headcount. CEO Dara Khosrowshahi announced the restructuring in a memo to staff, stating that the company aims to simplify team structures and streamline its global location strategy. The reduction comes as Uber's revenue has nearly tripled over the past five years, but the company believes this growth has brought complexity with more layers and fragmented ownership.

Khosrowshahi emphasized the need to make Uber simpler and faster, allowing for faster decisions and more capacity to invest in the future. The company will be merging its delivery operations teams and consolidating roles into fewer hub cities, with most remote employees expected to return to offices. Uber also plans to continue its hybrid work policy, requiring employees to work from the office three days a week.

The restructuring is not a reflection of individual employees' contributions, according to Khosrowshahi.