Matthew BeedhamEditor, SHIFT by TNW
Matthew is the editor of SHIFT. He likes electric cars, and other things with wheels, wings, or hulls. Matthew is the editor of SHIFT. He likes electric cars, and other things with wheels, wings, or hulls.
According to an SEC filing earlier this week, Uber’s chief technology officer is stepping down. The rest of the executive board is reportedly discussing further measures to help the company weather the financial challenges created by the coronavirus pandemic.
[Read: Global e-scooter numbers could quadruple once lockdown measures lift, analysts say]
The Information reports that more than 5,400 jobs could be at risk as Uber’s management looks to cut costs. This would represent a loss of about one fifth of Uber’s workforce.
Details of the cuts are sparse. The layoffs are yet to be finalized and could be made in a series of announcements over the coming weeks, the report added.
Indeed, ride-share services like Uber have been hit hard by the downturn in user numbers that has resulted from the outbreak of Covid-19.
Recent research from US automotive industry experts CarGurus found that 39% of people that use ride-share services are likely to stop using or reduce their usage of the apps after lockdowns lift. The drop in riders is already forcing Uber to rethink its business, and it appears challenges will remain even after lockdown measures are reduced.
TNW has contacted Uber about the layoffs. We will update this piece when we know more.
H/T – The Verge
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