Uber CEO says laying off 3,300 workers will help lower prices for customers
Uber said last week that it was laying off 10% of its corporate staff, or around 3,300 positions, as the ride-hailing giant looks to reduce management layers. The move marks its biggest cuts since Covid. Read Entire Article
Uber CEO Dara Khosrowshahi announced that the company will lay off 3,300 employees as part of a plan to reduce prices for customers. The layoffs, which represent about 10% of Uber's corporate staff, come as the ride-hailing giant seeks to cut management layers and save money. Khosrowshahi pledged to use the savings from the layoffs to lower prices, particularly in the realm of insurance and the company's autonomous taxi network.
The CEO also mentioned that the money saved from insurance would be directed towards Uber's autonomous taxi network. Despite the layoffs, Uber reported better-than-expected earnings in its recent quarterly report. However, the company's decision to lay off workers has raised concerns, as some customers may question whether the promised price reductions will come to fruition.
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