Uber Is Laying Off 3,000 More Employees
The rideshare company already announced plans to lay off 3,700 employees earlier this month.
Uber is laying off 3,000 more employees and shutting down 45 of its offices as it deals with the impacts of the coronavirus pandemic.
Uber CEO Dara Khosrowshahi made the announcement in an email on Monday. He said that "hoping the world would return to normal within any predictable timeframe ... was not a viable option."
Amid stay-at-home orders and closed businesses to curb the spread of COVID-19, Uber saw an 80% decrease in global demand for rideshare this April compared to last year. Ride-hailing usually makes up about 75% of the company's revenue. However, the pandemic has made for an increase in delivery orders from UberEats. Khosrowshahi said, "while Eats growth is accelerating, the business today doesn't come close to covering our expenses."
Uber already cut 3,700 jobs at the beginning of the month as part of its goal of saving about $1 billion in annual costs. Those cuts on top of Monday's additional layoffs account for about 25% of the company's workforce. The cuts don't include drivers, since they aren't classified as employees.
Khosrowshahi said, "We're seeing some signs of recovery, but it comes off of a deep hole, with limited visibility as to its speed and shape. ... I wanted there to be a different answer, but there simply was no good news to hear."
The CEO also said Uber will be focusing on its core business of ride-hailing and its food delivery branch. It's stepping back from "non-core projects" it's invested in, such as self-driving technology and a freight logistics network.
GoodRx to pay penalty to FTC; feds claim it shared health information
The FTC is pushing consumers to check their privacy settings after alleging GoodRx shared health information with advertisers without user consent.By AP
Boeing bids farewell to an icon, delivers last 747 jumbo jet
Since 1969, the 747 has served as a cargo plane, a commercial aircraft capable of carrying nearly 500, and the Air Force One presidential aircraft.By Jennifer Buchanan / The Seattle Times / AP
McDonald's Among Companies Trying To Stop California Minimum Wage Hike
In-N-Out, Chipotle, Starbucks, Chick-Fil-A, Panda Express, and Domino's are among several companies opposing the $22 an hour minimum wage increase.By Nam Y. Huh / AP
Source: Kyrie Irving going to the Dallas Mavericks
The blockbuster trade ends Irving's pairing with Kevin Durant before it ever had much of a chance to click.By Frank Franklin II / AP
Lawmakers react to US shooting down suspected Chinese spy balloon
If you can't get enough of the Chinese balloon saga, turns out there's another sighting in Costa Rica.By Chad Fish via AP
Democrats introduce bills intended to bolster Black history education
Advocates for the legislation said it would invest $10 million over five years in the National Museum of African American History and Culture.By Mariam Zuhaib / AP