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Benzinga
Benzinga
Business
Rachit Vats

Uber CEO Calls For Cost Cutting, Treating Hiring As Privilege Amid Seismic Market Shift: Report

Uber Dara Khosrowshahi CNBC NYSE Uber Technologies Inc

Uber Technologies Inc (NYSE:UBER) will cut costs to turn into a leaner business model to address a “seismic shift” in investor sentiment, CNBC reported on Monday, citing CEO Dara Khosrowshahi’s letter to employees.

What Happened: Khosrowshahi said Uber will cut spending on marketing and incentives and treat hiring as a “privilege” and be more “hardcore about costs across the board.”

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