Uber announces another round of layoffs as financial uncertainty looms

Photo by James Bareham / The Verge

Uber announced an additional round of layoffs Tuesday, this time from its product and engineering teams. A total of 435 people were let go, or around 8 percent of the ride-hailing company’s entire workforce. The news, which was first reported by TechCrunch, comes a few months after Uber said it would be cutting 400 employees from its marketing division.

This latest round of layoffs comes after a brutal second quarter for Uber, with the company missing its revenue projections and reporting a record $5.2 billion net loss. In August, Uber confirmed that it had put in place a hiring freeze on new software engineers and product managers, but now — even as it cuts hundreds of workers — the company says that freeze has been lifted.

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via The Verge – All Posts

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