Ride-hailing company Uber Technologies is once again in the news for cutting down more jobs. Uber is slashing 3000 more jobs in addition to the 3700 jobs they announced earlier this month. Due to the lockdown in various parts of the world people are not hiring the cab services hence the revenue has been badly hit.
According to media reports, the company’s CEO, Dara Khosrowshahi mentioned that the company would wind down its office in Singapore in the coming months and will move to a new hub in the Asia-Pacific region. The company is also shutting down offices in more than 45 cities.
"We must establish ourselves as a self-sustaining enterprise that no longer relies on new capital or investors to keep growing, expanding and innovating," Dara Khosrowshahi wrote in a letter to staff.”
He added, “We have to take these hard actions to stand strong on our own two feet, to secure our future and to continue on our mission."
It can be recalled that earlier this month, the company announced That it will cut about 3,700 full-time jobs and Chief Executive Officer Dara Khosrowshahi will forgo his base salary for the remainder of the year.
On the one hand, the company is on a firing spree while on the other hand some of the senior leaders of the company have decided to move on. Last month in April, the Chief Technology Officer, Thuan Pham stepped down after seven years as an executive at the company. In the same month, Uber’s HR Director for the Asia Pacific, Vishpala Reddy left the company and joined Philips.
The current situation is tough for all the leading business especially the travel industry. With travel coming to a standstill such companies are finding it difficult to survive.