Uber layoff 200 Employees in Recruitment Division, Massive Layoffs Expected

Uber layoff 200 Employees ,the popular ride-hailing app, is undergoing a significant workforce reduction, with 200 employees from its recruitment division being laid off as part of a cost-cutting initiative. The company’s decision to streamline costs by reducing its workforce by 35% was disclosed in an internal memo. This follows earlier job cuts in the freight services division, where 150 positions were eliminated. Despite these measures, Uber remains optimistic about achieving operating income profitability by the end of 2023.

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Since the onset of the pandemic, Uber has reduced its overall workforce by at least 17%. In 2020, the company implemented two major rounds of job cuts, resulting in approximately 6,700 layoffs. The recent layoffs come after a prior announcement in May that Uber would maintain a flat workforce.

Despite the challenges, Uber reported a promising growth in the first quarter of this year, with a 24% increase in trips, totaling 2.1 billion. Uber CEO Dara Khosrowshahi attributed this growth to improved earnings and consumer engagement, particularly in the mobility segment, which experienced a 32% trip growth.

Looking ahead, Uber remains focused on extending its product offerings and leveraging its scale and platform advantages for sustained market-leading growth. The company anticipates gross bookings of $33 billion to $34 billion and adjusted EBITDA of $800 million to $850 million for Q2 2023.

Overall, these measures reflect Uber’s determination to navigate the evolving ride-hailing industry and position itself for long-term success, despite the challenges posed by the pandemic.