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.
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Chinese ride-hailing company Didi Chuxing will roll out robo-taxis in Shanghai, letting people hail self-driving cars through their smartphones.
A former Google engineer has been charged with stealing self-driving car technology from the company shortly before he joined Uber.
Bolt, the ride-hailing service formerly known as Taxify, said it has begun operating a food-delivery business in its native Estonia, and will launch in other European and African countries next year.
Uber Technologies has instituted a hiring freeze for employees working on software and services across the US and Canada, as the ride-hailing company faces mounting losses.
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.
Even by the standards of Uber Technologies, $5-billion is a lot to lose in three months of doing business. Yet, that’s the amount analysts expect to see for the second quarter.
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.
Uber Technologies’ path to profit is likely to be slowed by growing competition as a significant number of customers are willing to wait around for a cheaper ride, according to analysts at HSBC.
It would be prudent to focus primarily on job creation in South Africa before crushing potential growth areas with formal prescriptions. By Gwen Ngwenya.