Uber is Laying Off 3,700 as Rides Plummet Due To COVID-19 (techcrunch.com) 28
In an SEC filing dating back to last week, Uber disclosed plans to layoff 3,700 employees. The figure amounts to around 14% percent of the ride hailing giant's total workforce. From a report: In the document, the company states that the job loss is part of a planned reduction in operating expenses, "in response to the economic challenges and uncertainty resulting from the COVID-19 pandemic and its impact on the company's business." While Uber hasn't suspended operations altogether amid widespread shutdown, the company has no doubt taken a massive hit to its bottom line, as state governments have issued stay at home orders for non-essential workers. In a letter to staff, CEO Dara Khosrowshahi noted that the cuts will come from from community operations and recruiting. Uber will also be closing around 40 percent of its Greenlight locations -- used for in-person driver assistance.
No worries (Score:5, Insightful)
In an SEC filing dating back to last week, Uber disclosed plans to layoff 3,700 employees. The figure amounts to around 14% percent of the ride hailing giant's total workforce.
It's ok, they should use this opportunity to improve themselves. Maybe go into business for themselves, start their own companies, and be independent contractors driving for Uber!
Gee, can't make $50 a day (Score:2)
That many? (Score:5, Interesting)
Is it just me, or is anyone else wondering how the hell Uber had even 3,700 employees in the first place, let alone that being only 14% of their staff? They have 26k employees to do backend for an app? Really?
- Necron69
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Sr. Finance Operations Specialist
Software Engineer
Sr. Product Manager, Payments
Sr. Director, Public Policy & Government Relations
Restaurant Operations Coordinator, Uber Eats
Greenlight Expert (no idea what that is)
Brand Experience
https://www.uber.com/us/en/car... [uber.com]
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Re: That many? (Score:2)
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Re: That many? (Score:1)
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Is it just me, or is anyone else wondering how the hell Uber had even 3,700 employees in the first place, let alone that being only 14% of their staff? They have 26k employees to do backend for an app? Really?
- Necron69
I'm not surprised that a global company with $14 billion in revenue (2019) has 26k employees.
Unfortunately their net lost was $8 billion, so they have to get rid of a bunch of them.
https://s23.q4cdn.com/40796975... [q4cdn.com]
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Well, my employer is a Fortune 500, global company that had $22.5 billion in revenue for 2019 with 20k employees, and we actually make products to sell to people.
Even Facebook, with a huge portfolio of apps, services, advertising, etc., only has like 46k employees. Methinks Uber was already suffering from some major bloat.
- Necron69
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Well, my employer is a Fortune 500, global company that had $22.5 billion in revenue for 2019 with 20k employees, and we actually make products to sell to people.
Even Facebook, with a huge portfolio of apps, services, advertising, etc., only has like 46k employees. Methinks Uber was already suffering from some major bloat.
- Necron69
I wonder how many contractors/temps they have? It's an easy way to staff up and keep the employee numbers down.
Every company is different. My current one has $21B revenue with 47K employees
But look at FannieMae and Freddie Mac! Those two must be printing money.
Fanny: $120B revenue, 7,400 employees
Freddie: $73B revenue, 6,600 employees
Here's an interesting "revenue per employee" report
https://priceonomics.com/which... [priceonomics.com]
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I swear, that's the question on my mind every time I hear about a "tech" company laying off thousands of employees. If someone told me Uber is a 10-person shop (not counting the drivers) I would find that completely believable. For it to be 100 is just amazing. 1000 employees sounds like made-up bullshit. Tens of thousands, oh please, are we counting their body thetans now?
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Same here, it's like Twitter, how this requires thousands of people to run? I'm speechless...
Re: That many? (Score:2)
If someone told me Uber is a 10-person shop (not counting the drivers) I would find that completely believable.
You've obviously never worked for Corporate America. When I worked at American Spirits (i.e. "Santa Fe Natural Tobacco"), their biggest department was Legal.
Slow recovery when the virus ends (Score:5, Interesting)
When the Virus ends and the Economy reopens it isn't going to be a bounce back like nothing has happened.
We just got roughly 12% of the Us working population out of work, having them reconsider their living conditions, their career choices, and how to proceed with the rest of their life.
A lot of people will not wait for their job to open up again, a lot of the jobs that were closed, were ones that the company was trying to get rid of anyways. A lot of these jobs people didn't really want to have, but considered it a safe job.
So when things start back again. People may decide luxury items are no longer needed as much for a while. And the fact that many companies that are still functioning have basically overnight improved their work from home and remote services. A lot of support and demand is no longer there. People are comfortable now with a video chats, and may decide to no longer fly around the globe for a in person meeting. Less people commuting will mean less Uber.
Businesses needing less office space, may get rid of it, so there will be more vacent office space.
Things are not going back to normal. A new normal will come up.
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By roughly 12% you mean a minimum of 15%, right? The number of people out of work is always undercounted because it doesn't include certain groups.
Remember when the con artist whined the unemploment numbers under Obama were fake, that they were far higher? Well guess what, the numbers now really are far higher than we're told, just like the number of dead from covid-19 is thousands higher.
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I don't disagree, but an understanding of where the numbers originate and what effects them is important. Unemployment is measured by unemployment insurance claims. Under Obama, the workplace participation rate had dropped, severely underestimating the problem. Under Trump, we've just come off historically low unemployment, and drastically increased participation. The numbers are much closer to the truth.
Re: Slow recovery when the virus ends (Score:1)
"roughly 12% of the Us working population out of work"
Huh? The iron boot of the Covidiot prison state has ground 50-80% of economic activity to a halt.
blame the virus (Score:2)
https://www.theverge.com/2020/... [theverge.com]
They're just claiming it was the virus so they can grab some US Tax dollars Lord trumpkin is throwing to croney capitalists.
I love what you say, but last year (Score:2)
"Ride-sharing" increases driving emissions and traffic congestion, for no real social good.
Period.
Re: I love what you say, but last year (Score:1)
Uber did more to reduce drunk driving than did 30 years of propaganda campaigns and hundreds of thousands of souls run through the meat grinder of the kangaroo courts and the gulag.