javascript hit counter
Business, Financial News, U.S and International Breaking News

Uber Freight cuts 150 jobs, about 3% of the unit’s head depend

Uber Freight

Uber Freight has laid off 150 workers, or about 3% of the phase’s whole head depend.

The layoffs have an effect on the division’s digital brokerage staff, Uber Freight CEO Lior Ron mentioned Monday in a message seen by CNBC. They’re the primary layoffs since 2020, within the early weeks of Covid lockdowns.

Uber launched its freight unit in 2017 with a perception that trucking corporations and laden items might be matched utilizing the identical idea that underpinned the corporate’s ride-hailing know-how. The unit booked $1.Eight billion in income for the third quarter of 2022, up 336% yr over yr.

“As you already know, the logistics market is presently dealing with plenty of headwinds which has impacted our buyer base in addition to the general trade,” Ron advised workers. “We accelerated hiring final yr inside sure areas of our Brokerage enterprise, planning for a special financial actuality, however the volumes didn’t materialize as anticipated.”

Uber CEO Dara Khosrowshahi mentioned final week on the World Financial Discussion board in Davos that he is not planning companywide layoffs.

The cuts observe far deeper tech layoffs at Alphabet, Meta, Amazon, Microsoft and Twitter. In November, supply service DoorDash laid off 1,250 staff, or 6% of its head depend, weeks after ride-hailing platform Lyft reduce 13% of its head depend.

Laid-off workers “shall be prolonged departure packages and help that features severance, prolonged healthcare and 2022 bonus cost, outplacement and profession help, and if relevant, immigration companies,” Ron mentioned.

Uber releases its 2022 full-year earnings on Feb. 8.

Former Uber SVP Emil Michael on the company: I still hold the stock and it's not going away

This text was initially printed by cnbc.com. Learn the authentic article right here.

Comments are closed.