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Uber cuts 3,000 more jobs, shuts 45 offices in coronavirus crunch
Uber’s results show company lost more money than anticipated: Report
FOX Business’ Susan Li says, in terms of profit, Uber lost $1.70 per share instead of the estimated 0.88 cents per share loss.
Uber Technologies Inc. is cutting several thousand additional jobs, closing more than three dozen offices and re-evaluating big bets in areas ranging from freight to self-driving technology as Chief Executive Dara Khosrowshahi attempts to steer the ride-hailing giant through the coronavirus pandemic.
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UBER TECHNOLOGIES INC.
Mr. Khosrowshahi announced the plans in an email to staff Monday, less than two weeks after the company said it would eliminate about 3,700 jobs and planned to save more than $1 billion in fixed costs. Monday's decision to close 45 offices and lay off some additional 3,000 people means Uber is shedding roughly a quarter of its workforce in under a month.
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Stay-at-home orders have ravaged Uber's core ride-hailing business, which accounted for three-quarters of the company's revenue before the pandemic struck. Uber's rides business was down 80% year-over-year in April.