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Uber axes thousands of jobs amid lockdown pandemic

by LLB Reporter
6th May 20 2:56 pm

The ride hailing business Uber have announced they are to axe 3,700 as the coronavirus lockdown has affected their business.

In a stock market filing the company said the plan “to reduce its operating expenses in response to the economic challenges and uncertainty resulting from the Covid-19 pandemic and its impact on the company’s business.

“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 by approximately 3,700 full-time employee roles.”

Uber said this will cost the company $20m in “severance and other termination benefits,” to those employees who lose their jobs.

More follows….

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