For about 3,300 Uber employees, Wednesday brought a painful message: their jobs were being eliminated. Uber is cutting roughly 10% of its global workforce in its biggest round of layoffs since the Covid-19 pandemic. Chief executive Dara Khosrowshahi announced the decision in a companywide memo on 2 September.
The announcement came with an unusual explanation. Khosrowshahi acknowledged that Uber's business is performing strongly. He said the company's revenue has nearly tripled over more than five years as it expanded its products, businesses, and global reach. So why cut thousands of jobs? According to Khosrowshahi, Uber has become too complicated.
