Uber to cut 10% of staff
Uber has announced a reduction of about 10% of its employees as part of a broad organizational restructuring aimed at cutting costs and focusing on investments in autonomous vehicles. This move comes amid increasing competitive challenges from companies like Wemo, owned by Alphabet, and a 7% decline in the company's stock over the year, with an expected annual savings of approximately $825 million through workforce reductions. The company aims to strengthen its competitive edge by investing more than $10 billion to expand its autonomous vehicle network, serving a customer base exceeding 200 million.
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