After Business Insider's julie188 reported over the weekend that Uber employees were bracing for another round of layoffs, Uber announced on Monday it will lay off 3,000 workers and close 45 offices
The move, first reported by the Wall Street Journal, confirms Business Insider's reporting from the weekend that more cuts were on the way. Visit Business Insider's homepage for more storiesUber confirmed Monday that it will cut 3,000 more jobs, while closing dozens of offices and scaling back money-losing bets in order to slow steep revenue losses incurred due to the coronavirus pandemic.. Coupled with earlier cuts in May, the total of laid off employees now stands at 6,700.
"As a leadership team, we had to take the time to make the right decisions, to ensure that we are treating our people well, and to make certain that we could walk you through our decision making in the sort of detailed and transparent manner you deserve," the email read.
"That's led us to some painful decisions today: we are stopping some of our non-core investments and reducing the size of our workforce by around 3,000 people, each of whom I want to personally thank for their contributions to Uber. As I said to our teams today, we are making these hard choices now so that we can move forward and begin to build again with confidence."
Uber's stock price was up more than 8% over Friday's close following the weekend report and subsequent confirmation as investors cheered the further cost reductions. As part of a larger restructuring effort, Uber said it's exploring "strateic alternative" to its planned gig-work platform known as Uber Works. Uber Eats will henceforth known as "delivery," headed by the same executive, and Uber Transit will fold into a "mobility" division. Axel Springer, Insider Inc.'s parent company, is an investor in Uber.
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