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Uber is Laying Off 3,700 as Rides Plummet Due To COVID-19

In an SEC filing dating back to last week, Uber disclosed plans to layoff 3,700 employees. The figure amounts to around 14% percent of the ride hailing giant’s total workforce. From a report: In the document, the company states that the job loss is part of a planned reduction in operating expenses, “in response to the economic challenges and uncertainty resulting from the COVID-19 pandemic and its impact on the company’s business.” While Uber hasn’t suspended operations altogether amid widespread shutdown, the company has no doubt taken a massive hit to its bottom line, as state governments have issued stay at home orders for non-essential workers. In a letter to staff, CEO Dara Khosrowshahi noted that the cuts will come from from community operations and recruiting. Uber will also be closing around 40 percent of its Greenlight locations — used for in-person driver assistance.

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