Home NewsStock Market News Uber Freight laid off 150 people, accounting for about 3% of the total number of the department | Anue tycoon

Uber Freight laid off 150 people, accounting for about 3% of the total number of the department | Anue tycoon

by WOOWinvest
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Uber Freight laid off 150 people, accounting for about 3% of the total number of the department | Anue tycoon


Uber Freight is cutting 150 jobs, about 3% of the division’s total headcount.

Uber Freight CEO Lior Ron (Lior Ron) issued a message on Monday (23rd) that the layoffs affect the department’s digital brokerage team. This is the first layoff since the early weeks of the 2020 COVID-19 lockdown.

Uber (UBER-US) launched its freight division in 2017, believing that trucking companies and cargo-carrying goods can complement each other using the same concepts that underpin the company’s ride-hailing technology. The segment’s revenue in the third quarter of 2022 was $1.8 billion, up 336% year-over-year.

“As you know, the logistics market is currently facing some headwinds that affect our client base as well as the industry in general,” Ron told employees. economic reality, but the volumes have not materialized as expected.”

Uber CEO Dara Khosrowshahi told the World Economic Forum in Davos last week that he does not plan to cut jobs across the company.

This follows larger tech layoffs at Alphabet (GOOGL-US), Meta (META-US), Amazon (AMZN-US), Microsoft (MSFT-US) and Twitter. In November 2022, delivery service DoorDash (DASH-US) is cutting 1,250 jobs, or 6% of its workforce, a few weeks after ride-sharing platform Lyft (LYFT-US) cut 13% of its workforce.

Laid-off workers “will receive extended pay severance and benefits, including severance pay, extended health care and bonus payments through 2022, reemployment and career support, and immigration services, if applicable,” Ron said.

Uber will release its full-year 2022 earnings report on February 8.

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