Uber lays off another 350 workers amid ongoing losses
Uber is laying off another 350 workers, the company announced on Monday. Uber Eats and Uber’s self-driving car team are among the divisions hit by job losses. TechCrunch obtained a copy of an email CEO Dara Khosrowshahi sent to Uber workers. It describes the layoffs as “difficult but necessary changes.”
Uber announced in August that it racked up record losses of $5 billion in the second quarter of 2019. It’s important to note that the bulk of that figure represents one-time charges connected to Uber’s May stock offering. Excluding those charges, Uber’s ongoing burn rate has been around $1 billion in recent quarters. Third-quarter financial results are due out next month.
An Uber spokesperson told TechCrunch’s Megan Rose Dickey that Monday’s layoffs represented about 1% of the company’s workforce. That’s far too small to eliminate Uber’s losses. But every little bit helps.
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