2 hrs ago
Uber Cuts 3,300 Jobs to Fund Robotaxis and AI
Uber says it will remove about 3,300 jobs.
That is around 10 percent of its worldwide workforce.
The company says it wants to become simpler and faster.
It plans to use some savings to invest in robotaxis and AI.
Uber has grown for five years, according to its CEO, but has also become more complicated.
It faces competition from robotaxis such as Waymo.
Its food-delivery business is also facing challenges.
Uber’s shares rose 2 percent on Wednesday but are down 7 percent this year.
Uber plans to eliminate about 3,300 jobs, roughly 10% of its global workforce.
The San Francisco-based company says the cuts will simplify and speed up its organization.
Uber plans to invest savings from the layoffs in robotaxis and artificial intelligence.
The company faces growing competition from robotaxis such as Waymo and challenges in food delivery.
Uber employed about 34,000 people at the end of last year; its shares rose 2% Wednesday but are down 7% this year.
- Who
- Uber and about 3,300 of its employees.
- What
- Uber is cutting approximately 3,300 jobs, or 10% of its global workforce.
- Where
- The cuts affect Uber’s global workforce; the company is based in San Francisco.
- When
- The cuts were announced on Wednesday; the article does not specify a calendar date.
- Why
- Uber says it wants to simplify its organization and redirect savings toward robotaxis and artificial intelligence amid competition and food-delivery challenges.
Key facts
- Planned job cuts
- About 3,300 positions
- Share of workforce
- Approximately 10%
- Reported workforce
- About 34,000 employees at the end of last year
- Investment focus
- Robotaxis and artificial intelligence
- Competitive pressure
- Robotaxis such as Waymo
- Share movement
- Up 2% Wednesday; down 7% this year
- Company location
- San Francisco
Sources
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