Uber to Cut 3,000 More Jobs, Shutter 45 Offices, as Coronavirus Fallout Continues

Ride-hailing giant Uber Technologies (NYSE: UBER) is planning a second round of job cuts and cost-saving measures, according to an email to employees from CEO Dara Khosrowshahi. 

The company already announced 3,700 job cuts on May 6. This new round of 3,000 additional cuts would leave Uber with about 20,000 employees. If the new cuts occur this month, Uber will have shed about 25% of its workforce in May. That doesn't count the company's drivers, who are considered to be contractors rather than employees.

Uber's shares were up over 6% in today's trading.

Continue reading

Source Fool.com