News: Uber India lays off about 10% of its staff

#Layoffs

Uber India lays off about 10% of its staff

These layoffs come as Uber India accounts for a major part of the company’s expenses as compared to its two percent contribution to the total revenue.
Uber India lays off about 10% of its staff

Even though Uber India accounts for two percent of the company’s revenue, it is contributing to a major part of its expenses. Uber has thus let go of about 10-15 percent of its India employees. 

The global retrenchment drive will have an impact on Uber’s businesses in India, including the food-delivery app UberEats. These layoffs will impact the 350-450 employees in India. On a global level, Uber is planning to remove about 350 people with the majority i.e. 70 percent being in the US and Canada. 

The latest spree of downsizing brings Uber’s total retrenchment number to 1,200 which encompasses about one percent of Uber’s total staff. This also happens to be the third round of layoffs at the ride-hailing app which also went public earlier in 2019. 

The marketing and analytics team were the first ones to bear the brunt in July. The next round was in September when India’s team was unaffected but the product and technology positions were eliminated during that round of restructuring. 

Earlier this month, two top UberEats executives, Bhavik Rathod, India Chief, and Deepak Reddy, Head of Central Operations, had resigned. Uber is in talks with Swiggy and Amazon separately for a sale of UberEats, however, the transaction is running into a few obstacles. 

From the time that Uber has gone public on the NYSE, it has shown less than desirable results and is losing money in spite of a Q2 gross booking value rise of 13 percent in 2019. 

Topics: #Layoffs, Employee Relations

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