Company leadership with Uber announced Wednesday a cut of 3,700 jobs, representing 14% of its global workforce, as the coronavirus ravages ride-hailing revenues.
A regulatory filings by the company stated, "Due to lower trip volumes in its Rides segment and the Company's current hiring freeze, the Company is reducing its customer support and recruiting teams."
The significant layoffs come just a day after CEO Dara Khosrowshahi warned employees at an all-hands meeting that plans for layoffs would be finalized within two weeks, according to a source familiar with the meeting. Khosrowshahi also announced he would forego his $1 million base salary until the end of the year, Uber said in the filing.
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