{"id":151327,"date":"2019-09-11T15:39:36","date_gmt":"2019-09-11T14:39:36","guid":{"rendered":"https:\/\/arewa.ng\/?p=151327"},"modified":"2019-09-11T15:40:42","modified_gmt":"2019-09-11T14:40:42","slug":"uber-cuts-435-more-staff-after-losing-billions-in-the-second-quarter","status":"publish","type":"post","link":"https:\/\/arewa.ng\/?p=151327","title":{"rendered":"Uber cuts 435 more staff after losing billions in the second quarter"},"content":{"rendered":"
Uber has announced a new round of job cuts as the ride-hailing app and tech firm looks to save costs following heavy losses.<\/p>\n

California-based Uber Technologies will shed 435 roles in its engineering and product divisions – about 8% of the workforce.<\/p>\n

The news followed the loss of 400 marketing jobs at the end of July when chief executive Dara Khosrowshahi declared that big teams can deliver “mediocre results”.<\/p>\n

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\"Uber<\/p>\n<\/div>

\nImage:<\/span>
\nUber chief executive Dara Khosrowshahi was on hand as trading in Uber shares began on the NYSE in May<\/span><\/figcaption><\/figure>\n<\/div>\n

Uber revealed a record second-quarter loss<\/strong> of \u00a34bn in August, just months after its costly flotation in May.<\/p>\n

The company also flagged a leap in research and development costs as it attempts to lead the race for driverless car technology.<\/p>\n

Shares are currently 25% down on their flotation price.<\/p>\n

As it revealed the latest job losses, a decision by the California senate threatened to add further, significant costs to its ride-hailing and food delivery operations.<\/p>\n

Politicians have passed a new bill that gives greater wage and benefit protections to workers in so-called “gig economy” companies such as Uber and its North American rival Lyft.<\/p>\n

The bill still needs final approval from the assembly.<\/p>\n

In an email to staff, reported by Bloomberg, Mr Khosrowshahi said of the latest job cuts: “In the past, we grew our teams rapidly and in a decentralized way.<\/p>\n

“This made sense as we worked to scale the business globally and find product-market fit… But at a certain point, bigger teams do not mean better results.”<\/p>\n

Cost pressures are not the only challenge facing Uber.<\/p>\n

Last month,<\/strong> Sky News reported that the company faced an uphill battle to secure a new five-year operating licence in London – its most profitable market outside the US – with passenger safety among regulatory concerns.<\/div>\n","protected":false},"excerpt":{"rendered":"

Uber has announced a new round of job cuts as the ride-hailing app and tech firm looks to save costs following heavy losses. California-based Uber Technologies will shed 435 roles in its engineering and product divisions – about 8% of the workforce. The news followed the loss of 400 marketing jobs at the end of […]<\/p>\n","protected":false},"author":1,"featured_media":151328,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[2317,2371,1021],"class_list":["post-151327","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-more","tag-lyft","tag-uber","tag-uk"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/arewa.ng\/index.php?rest_route=\/wp\/v2\/posts\/151327","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/arewa.ng\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/arewa.ng\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/arewa.ng\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/arewa.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=151327"}],"version-history":[{"count":0,"href":"https:\/\/arewa.ng\/index.php?rest_route=\/wp\/v2\/posts\/151327\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/arewa.ng\/index.php?rest_route=\/wp\/v2\/media\/151328"}],"wp:attachment":[{"href":"https:\/\/arewa.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=151327"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/arewa.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=151327"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/arewa.ng\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=151327"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}