Uber to Lay Off 3,700 Workers and CEO to Waive Salary
Uber is cutting 3,700 full-time workers and its CEO will give up his base salary, with the nation largely still in lockdown.
The San Francisco company said Wednesday that the layoffs and related costs like severance will reach about $20 million.
Uber Technologies Inc. had already imposed a hiring freeze and has offered up to 14 days of financial assistance to drivers and delivery workers who were diagnosed with COVID-19, or placed in quarantine.
Chief Executive Dara Khosrowshahi will waive his base salary through year-end.
The company, which is scheduled to report quarterly financial results after the bell Thursday, said it is evaluating other cost cuts.
To Read The Full Story
Are you already a subscriber?
Click "Sign In" to log in!
Become a Web Subscriber
Click “Subscribe” below to begin the process of becoming a new subscriber.
Become a Print + Web Subscriber
Click “Subscribe” below to begin the process of becoming a new subscriber.
Renew Print + Web Subscription
Click “Renew Subscription” below to begin the process of renewing your subscription.
