In his latest bid to reduce losses at Uber Technologies, Dara Khosrowshahi fired about 350 employees, in what he said is the “last wave” of workforce reductions.
Uber Technologies is dismissing 435 employees, the second major staff cut in recent months, as the company faces mounting losses and a declining stock price.
The ride-hailing company reported second quarter adjusted sales that fell short of estimates and posted a net loss of $5.24-billion, by far the largest ever for the business.
Uber Technologies said it’s cutting a third of its marketing department globally, as the CEO seeks to address concerns that the business is slowing down.
Done in by a broad stock market selloff and a weak earnings report posted by its primary rival, Uber plunged immediately at the opening of trading.
Good luck to potential investors in Uber Technologies’ coming initial public offering. Multiple advanced degrees might be needed to figure the company out.
Uber Technologies has joined rival Lyft in filing for an initial public offering, according to a person familiar with the matter.
Uber Technologies has said it will triple headcount working on food delivery across Europe, the Middle East and Africa in its fight for market share against local rivals.
After a decade of operation and perhaps a year or so away from its initial public offering, an essential unanswered question remains: is Uber viable?
Electric scooter rental company Lime is teaming up with Uber to bring an unconventional mode of transportation to the world. Uber Technologies is investing in Lime as part of a $335-million financing