Uber to cut 3,300 jobs
Uber Technologies announced plans to cut approximately 3,300 jobs, representing 10% of its total workforce, in its biggest layoffs since the COVID-19 pandemic. This move is part of a restructuring aimed at streamlining the company's management structure and reducing costs, while also focusing on developing capabilities and investing in autonomous vehicle technology and aerial delivery. Uber is facing pressure from the expansion of companies like Waymo and Tesla in the autonomous vehicle sector, and plans to invest more than $10 billion in this area over the coming years. The competition has affected the company's stock, which rose by 2% after the announcement but remains down 8% since the start of the year. These layoffs are the largest since 2020 and come amid economic and technological pressures the company faces to maintain its position in the transportation market challenge.
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