Passenger Ground Transportation

Delivery Hero's management and supervisory boards formally recommended on September 2, 2026, that shareholders accept Uber Technologies' takeover offer, moving the roughly $15 billion deal for the German food-delivery platform a step closer to completion. Under the agreement, Uber will pay €41.50 per share, implying an equity value of $14.8 billion, and Delivery Hero's second-largest shareholder, Prosus, has irrevocably committed to tender its 17% stake. The shareholder acceptance period runs until November 5. Uber already owned roughly 25% of Delivery Hero and expects the deal to increase non-GAAP EPS upon closing, with high-single-digit percentage accretion by the third year. The combined company would operate across 99 markets and generate $236 billion in pro forma gross bookings, though the transaction still requires regulatory approvals that could delay it or force concessions.

Uber Technologies Inc. and WeRide, together with AVOMO, have secured Spain's first national permit covering level 4 autonomous passenger vehicles, making Madrid the fourth city in the Uber-WeRide partnership. The permit was issued by Spain's Directorate General of Traffic and allows WeRide to test its GXR vehicles and conduct roadmapping throughout Madrid ahead of a commercial launch planned for year-end, starting with 20 vehicles each supervised by an in-car specialist in high-demand areas of Greater Madrid. The Uber-WeRide partnership plans to reach 15 cities globally by 2030, part of an Uber asset-light AV strategy that spans more than 30 partnerships, with Uber expecting to commit over $10 billion across AV investments, infrastructure, and vehicle offtake over the coming years. That multi-partner bet is under strain: Uber and Waymo confirmed in late June that their Phoenix partnership had ended, Waymo is reportedly considering a broader exit, and the NHTSA is investigating Uber AV partner Avride after multiple crashes, while Tesla ramps up its own Cybercab fleet and Waymo has raised $16 billion to accelerate independent growth. Hedge fund ownership was broadly stable, with holders slipping from 153 at the end of Q1 2026 to 151 at the end of Q2 2026, and short interest stood at only 2.29% of float as of August 31, 2026.

Grab Holdings Limited announced plans to complete the remaining approximately $900 million of its authorized share repurchase programs over the next 12 months, subject to market conditions and the trading price of its Class A ordinary shares. Full completion would bring Grab's cumulative repurchases since its first buyback program launched in 2024 to a total of almost $1.75 billion. The repurchases will be funded from existing cash reserves, with gross cash liquidity of $7.4 billion and net cash liquidity of $5.4 billion as of June 30, 2026. Chief financial officer Peter Oey said the company's conviction has strengthened, not softened, and that progress toward its 2028 targets gives it the visibility to commit capital at this scale. Grab currently carries a Zacks Rank #3 (Hold).

Uber Technologies and Costco have significantly expanded their U.S. partnership, making Costco delivery through Uber Eats available to millions of additional customers across 47 states, up from 17 states previously. Nearly 600 Costco locations are now accessible through the Uber Eats platform, offering both on-demand and scheduled delivery of fresh produce, bulk groceries, household essentials and Costco-exclusive merchandise. As part of the expanded partnership, eligible Costco members can receive a 50% discount on an annual Uber One membership during the first year, followed by a 20% discount in subsequent years, while participating Costco stores and Costco.com will offer Uber and Uber Eats gift cards worth $100 for $79.99 for a limited period. Consumers can also purchase a Costco membership directly through Uber Eats for a limited time and receive 30% off their first eligible Costco order, and Uber One members can access delivery without Uber fees on eligible grocery and retail orders exceeding $60. The U.S. expansion builds on the companies' existing international relationship, with Costco also available through Uber Eats in Canada, Mexico, Japan, Taiwan, France and Spain.

Grab has signed definitive agreements with Atome Financial, Advance Intelligence Group and other parties to acquire a controlling 60% stake in Atome Financial for $1.49bn in cash. The deal would fold Atome Financial's buy now, pay later loans, consumer cash loans, BNPL cards and digital lending into Grab's financial services unit, which spans payments, digital banks, partner lending, insurance and consumer lending. Atome Financial operates in Singapore, Malaysia, the Philippines, Indonesia and Thailand and has 25 million cumulative transacted users, while Grab reaches nearly 54 million Monthly Transacting Users and Atome Financial's network covers more than 30,000 brands. Grab said the $1.49 billion cash consideration includes $0.26bn in primary growth capital as Phase 1, and the transaction is due to close by the third quarter of 2027, subject to regulatory approvals and other customary closing conditions. After completion, Grab will consolidate Atome Financial into its Financial Services segment, with Atome Financial's management team remaining in place to oversee the business.

Costco Wholesale and Uber Technologies are sharply expanding their U.S. delivery partnership, making Costco available through Uber Eats in 47 states and nearly 600 warehouses, up from 17 states previously. Costco members can now order groceries, fresh produce, household essentials, bulk products and Costco-exclusive merchandise through Uber Eats for either scheduled or on-demand delivery, entering their membership information at checkout to access member pricing while Uber handles ordering, delivery scheduling and real-time tracking. The companies are also tying the expansion to their membership programs: eligible Costco members can receive 50% off an annual Uber One membership in the first year and 20% off in following years, participating Costco locations and Costco.com will temporarily offer $100 Uber or Uber Eats gift cards for $79.99, customers who buy a Costco membership through Uber Eats can receive 30% off their first qualifying Costco order, and Uber One members receive no Uber fees on eligible grocery and retail orders above $60. Costco already works with Uber Eats internationally in Canada, Mexico, Japan, Taiwan, France and Spain. Uber COO Andrew Macdonald said the nationwide partnership demonstrates the scale and opportunity Uber can bring to retailers looking to meet more of consumers' everyday shopping needs.

Costco Wholesale Corp. has expanded its Uber Eats partnership to 47 states from 17, bringing delivery from nearly 600 warehouses onto the platform. Customers can order Costco's full assortment through Uber Eats, with members verifying their membership before purchasing. The partnership goes beyond delivery: some Costco members will receive discounts on Uber One, and shoppers will be able to buy Costco memberships directly through the Uber Eats app. Costco gains another way to reach customers who expect groceries and household products at their door, while Uber gains one of America's largest retailers as it pushes Eats beyond restaurant delivery. Competition is intensifying, with DoorDash, Instacart and Amazon already competing heavily for grocery orders and Walmart expanding its own delivery ambitions.

Uber Technologies CEO Dara Khosrowshahi purchased 141,000 shares at an average price of roughly $70.96 per share, a transaction totaling just over $10 million that leaves him holding roughly 1.4 million shares. The buy came alongside Uber's latest quarterly results, which showed Gross Bookings climbing 24% year over year to $58 billion and revenue rising 12% to $14.2 billion, while Trips grew 18% to 3.9 billion and Monthly Active Platform Consumers rose 16%. Adjusted EBITDA jumped 33% to $2.8 billion and operating income climbed 40%, with free cash flow of $2.8 billion pushing trailing twelve-month FCF above $10 billion for the first time in the company's history. Other chief executives also stepped up: GameStop CEO Ryan Cohen bought 1 million shares at an average price of roughly $20.38, a transaction totaling nearly $20.4 million that leaves him directly holding more than 39.3 million shares, and Celsius CEO John Fieldly purchased 18,000 shares at an average price of roughly $27.44, a transaction totaling just under $500,000 that brings his direct holdings to more than 956,000 shares.

Grab Holdings has agreed to acquire a controlling 60% stake in Atome Financial for $1.49B in cash, expanding its digital lending business across Southeast Asia. The transaction includes $260M of primary growth capital and is expected to close by the third quarter of 2027, subject to regulatory approvals and other customary conditions, after which Grab will consolidate Atome Financial into its Financial Services segment. Atome Financial, the digital financial services platform of Advance Intelligence Group, offers buy now, pay later loans, consumer cash loans, BNPL cards and digital lending across Singapore, Malaysia, the Philippines, Indonesia and Thailand, and has served 25M cumulative transacted users. Grab has also agreed to acquire the remaining 40% stake approximately two years after the Phase 1 closing, with that second transaction based on Atome Financial's performance rather than a fixed price, using a valuation formula based on annualized adjusted EBITDA and revenue. The resulting equity valuation will have a floor of $2B and a cap of $4.5B, with at least 50% of the consideration payable in cash.

Uber CEO Dara Khosrowshahi said savings from the company's recent layoffs could be reinvested into lower prices for riders. Earlier this month, the rideshare company said it was eliminating 10% of its workforce, or about 3,300 people, in its largest round of cuts since the pandemic. Speaking at the Goldman Sachs Communacopia + Technology Conference, Khosrowshahi said Uber will take those savings and reinvest them back in the business, lowering prices, improving selection, and continuing to invest in its growth program. He also said Uber's commercial insurance costs, which had increased by more than 50% per ride in the U.S. mobility business over the past few years through the first quarter of 2025, have now reversed, and some of those insurance savings are being reinvested into lower consumer prices. Those savings, combined with a barbell strategy that uses excess margins from higher-end products like Uber Black to fund lower-cost offerings, could mean cheaper rides or more ways for customers to save through special offers such as the Wait & Save program. Shares of Uber jumped nearly 2% after the layoffs were announced, though the stock is down about 12.5% year-to-date amid analyst concerns over competition from autonomous vehicle companies, including Waymo's plan to offer rides through its own app alongside Uber starting in 2028.

Lyft has begun offering Waymo's fully autonomous robotaxi rides directly through its app in Nashville, the first market where Waymo vehicles can be booked through both the Waymo and Lyft apps. Lyft users requesting Standard, Priority Pickup, Wait & Save, or Extra Comfort rides within the designated Nashville service area can be matched with a Waymo vehicle at no additional cost. The rollout also expands Lyft's role in the autonomous-vehicle ecosystem through its Flexdrive subsidiary, which will manage charging, cleaning and maintenance for Waymo's fleet, with a new 80,000-square-foot facility supporting more than 70 full-time positions. Reuters previously reported that the Nashville partnership was intended to become Waymo's first commercial deployment through Lyft's ride-hailing network. The immediate financial impact could remain limited because Waymo availability on Lyft is initially restricted and the service carries no rider surcharge, while the longer-term risk is that wider robotaxi adoption pressures Lyft's traditional driver-based business and that Waymo could eventually prioritize its own customer platform.

GameStop chief executive Ryan Cohen and Uber chief executive Dara Khosrowshahi each made discretionary open-market purchases of their own companies' stock on September 10, 2026, spending roughly $20 million and $10 million respectively. Cohen, reporting as director, president, CEO and board chair of GameStop, acquired 1,000,000 shares of Class A common stock at $20.3759, while director Alain Attal bought 5,000 shares at $20.00 the same day. Khosrowshahi, as director and chief executive of Uber, acquired 141,000 shares of common stock at $70.9642. On both SEC Form 4 filings, the box indicating the trade was executed under a prearranged Rule 10b5-1 trading plan was left unmarked, meaning the purchases were discretionary; transaction code P, an open-market buy, is the rarest insider action and carries no routine explanation such as tax withholding or diversification. Cohen bought into a rebounding GameStop, where Q2 FY2026 collectibles revenue surged 57% year over year to $356.3 million and management raised FY2026 adjusted EBITDA guidance to more than $650 million, while Khosrowshahi bought into an Uber drawdown, with the stock down 24.3% over the past year even as Q2 FY2026 gross bookings rose 24% year on year to $58.02 billion and the consensus analyst target price stands at $101.21.

Uber Technologies announced on September 2 that it will cut roughly 10% of its global corporate workforce, about 3,300 of its 34,000 employees, its largest layoffs since the pandemic. CEO Dara Khosrowshahi told employees the changes are designed to make Uber simpler and faster and to create more capacity to invest in the future, including the company's previously announced plan to spend more than $10 billion on autonomous vehicles in the coming years. The cuts target organizational bloat specifically: teams of one or two direct reports will shrink by roughly half, and employees more than seven reporting layers from the CEO will be reduced by 20%. Uber is also combining its engineering, science, and delivery divisions and concentrating staff in hubs like New York and San Francisco, with only about 1% of employees permitted to keep working remotely. Khosrowshahi did not cite AI as a reason for the cuts, unlike Meta's recent layoffs.

Grab reported 22% revenue growth and 54% EBITDA expansion in the second quarter, outpacing Uber, whose 12% reported growth was dragged down by business model changes. Grab's fintech loan book surged 197% to $2.3 billion, and analysts lifted their FY2026 EPS estimate for Grab to $0.1338 from $0.0836 in just 30 days. Grab shares sit 40% below year-to-date highs, down 39.68%, versus an 11.22% decline for Uber, which carries a roughly $148.17 billion market cap against Grab's approximately $11.96 billion. Grab authorized a new $750 million buyback, while Uber repurchased $518 million in the quarter and is funding $10 billion in autonomous-vehicle investments plus roughly $4 billion deployed toward Delivery Hero shares. Grab's quarter included a $307 million one-time gain from remeasuring Superbank, which reached 7.4 million customers, and management guided the fintech loan book above $3 billion by year end.

Uber Technologies, WeRide and AVOMO, the autonomous vehicle division of Moove Cars Group, have secured Spain's first national permit for Level 4 autonomous passenger vehicles to operate on public roads, granted by Spain's Directorate General of Traffic under the ES-AV framework with support from the Regional Government of Madrid. The authorization, WeRide's ninth autonomous-driving permit globally, covers an initial phase of 20 vehicles equipped with WeRide's latest autonomous-driving technology, operating in high-demand areas across Greater Madrid under the supervision of in-car vehicle specialists, and marks the first EU national approval for WeRide's GXR autonomous vehicle. Commercial operations in Spain are expected to commence by the end of 2026, subject to deployment preparations and operational and regulatory requirements. The planned rollout marks WeRide and Uber's joint entry into Spain and Madrid's inclusion as the fourth of 15 cities covered by their strategic partnership, with the companies planning to expand into another 11 cities by 2030 and eventually deploy tens of thousands of autonomous vehicles on public roads worldwide. Uber currently works with more than 30 autonomous-vehicle partners across mobility, delivery and freight, collectively completing millions of autonomous trips annually, and expects to facilitate such journeys in as many as 15 cities by the end of 2026, aiming to become the world's largest facilitator of autonomous trips by 2029.

Grab Holdings is in talks to acquire a majority stake in Atome Financial, the Singapore-based buy-now-pay-later platform owned by Advance Intelligence Group, in a deal that may value the unit at more than $2 billion, according to a Bloomberg report citing people familiar with the matter. Deliberations are ongoing and no final decisions have been made. Grab, Atome Financial and Advance Intelligence Group all declined to comment to Bloomberg. Advance Intelligence Group is backed by investors including SoftBank Vision Fund 2 and Warburg Pincus. Shares of Grab have dropped 40% this year.

Uber Technologies Inc. shares rose more than 2.8% on Thursday after Chief Executive Officer Dara Khosrowshahi purchased $10 million worth of company stock. Khosrowshahi bought 141,000 shares of UBER common stock at a weighted average price of $70.9642 per share, according to a regulatory filing with the U.S. Securities and Exchange Commission, with individual transactions ranging from $70.73 to $71.18 per share. After the transaction, the CEO directly holds 1,367,100 shares of Uber common stock. The ride-hailing company's stock is down roughly 12% year-to-date.

Uber Technologies CEO Dara Khosrowshahi bought an additional 141,000 shares of the company on Thursday, a purchase that lifted the stock and ended a four-day losing streak. According to a filing with the U.S. Securities and Exchange Commission, Khosrowshahi bought the shares at prices ranging from $70.73 to $71.18 each. Khosrowshahi now owns more than 1.3 million shares of the ride-hailing and delivery company, a total that includes 298 shares acquired under the company's employee stock purchase plan.

Uber Technologies and Wakefern Food Corp. have expanded their partnership, letting customers shop from more than 375 Wakefern-affiliated supermarkets across the Northeast through Uber Eats. Participating banners include ShopRite, Price Rite Marketplace, The Fresh Grocer, Morton Williams, Dearborn Market, Di Bruno Bros., Fairway Market and Gourmet Garage. Through the Uber Eats app, customers can order fresh produce, meat, seafood, pantry staples, prepared foods and household essentials, choosing between on-demand and scheduled delivery. To mark the launch, Uber Eats is offering eligible customers discounts of up to 30% on their first order from participating Wakefern banners, while Uber One members will be charged no delivery fee on eligible orders. The launch advances Uber Eats' grocery and retail delivery expansion, following earlier tie-ups that brought more than 800 Best Buy stores, more than 14,000 Dollar General locations and nearly 9,000 Dollar Tree stores onto the platform.

Uber shares are trading at $71.10, roughly 44% below the Wall Street consensus 12-month price target of $102.13, even as Evercore ISI analyst Mark Mahaney keeps a Street-high $150 target that implies about 111% upside. The stock is down more than 30% from its 52-week high and 25.51% over the past year, pressured by a string of top-line misses: Q2 FY2026 revenue of $14.19 billion came in 0.5% below consensus and EPS of $0.81 fell short of the $0.83 estimate, following misses in Q1 and Q4, the latter driven by a $1.6 billion equity revaluation headwind. Mahaney's bull case rests on the Uber One subscription flywheel, where members spend roughly 3x more than non-members, accelerating free cash flow conversion, and expansion into higher-margin verticals such as advertising, grocery, and travel; gross bookings grew 22% year on year in Q2 to more than $58 billion, non-GAAP EPS grew 35%, and trailing 12-month free cash flow crossed $10 billion for the first time. Among gig-economy peers, Lyft trades near $14.90, down 23.08% year to date against a $19.84 consensus target, DoorDash sits at $197.25, off 12.91% year to date versus a $254.43 target, and Grab Holdings trades at $3.04 after a 39.08% year-to-date decline, with analysts pegging fair value at $5.86 for roughly 93% upside, the largest consensus gap in the group. Uber is down 12.98% year to date while the S&P 500 is up 11.81%, a roughly 25-point relative underperformance for a company that just posted 35% non-GAAP EPS growth.

Grab drivers in Vietnam are preparing to stop accepting rides for two days this weekend to protest the ride-hailing platform's commission rate, which drivers see as too high. Some say Grab takes as much as 50% of the fare, and combined with rising fuel prices and vehicle maintenance costs, this has sharply reduced drivers' net income. A group of drivers in Da Nang said on Facebook that the work stoppage aims to make drivers' voices and concerns heard, and called on Grab to adjust its commission rate to better support gig economy workers, set policies transparently, and let drivers take part in discussions about measures that affect their work and earnings. Grab has previously faced complaints about driver income in Indonesia, its largest market in Southeast Asia, where Grab and GoTo Group agreed to cut commissions for two-wheeled ride-hailing services from 20% to 8%, effective July 1, after the Indonesian government set a commission cap to help boost driver earnings. In Vietnam, about 800,000 people drive for ride-hailing platforms, with average take-home income of about 9 million dong a month, or roughly 347 dollars, even though they work about 8 to 13 hours a day, according to state media reports. Meanwhile, Green & Smart Mobility JSC, a major competitor to Grab in Vietnam, uses a different employment model, offering drivers employment contracts, a base salary, sales commissions, bonuses, and social insurance, according to the company's website. The move reflects growing pressure on the ride-hailing platform business model in the region, as drivers' operating costs rise while commission rates, income, and welfare for platform workers draw increasing attention in several Southeast Asian countries.

Uber Technologies has entered the euro debt market for the first time, launching a five-part bond offering as the ride-hailing company expands its presence across Europe. The company is offering fixed-rate notes with maturities ranging from three years to 20 years, according to Bloomberg, citing a person familiar with the transaction. Initial price discussions range from approximately 75 to 80 basis points over mid-swaps for the shortest-dated notes to around 200 basis points for the longest maturity. The offering is expected to be priced later Wednesday. Uber has historically raised debt in US dollars, making the euro-denominated offering a notable shift in its financing strategy. American corporations have been increasingly turning to European debt markets this year, with Amazon reportedly looking to sell bonds with maturities of 3, 6, 12, and 19 years.

Uber Technologies and British AI company Wayve have launched supervised autonomous rides in London, marking the first such service in the United Kingdom. Londoners requesting UberX, Uber Electric, or Uber Comfort may be matched with a Wayve vehicle at no extra cost, with fares shown upfront in the Uber app. The service uses all-electric Ford Mustang Mach-E vehicles equipped with Wayve's AI driver and interactive screens in 64 languages. Initially limited to London excluding airports, the rollout will expand gradually based on demand and regulatory developments, with trained drivers supervising each journey. This launch is part of a broader partnership that includes an Uber investment and plans to deploy Wayve-powered vehicles across 12 global markets, starting with London, and later introducing autonomous Nissan LEAF vehicles in Tokyo in 2026. Uber also works with over 30 autonomous-vehicle partners and expects to facilitate autonomous trips in up to 15 cities by the end of 2026.

Uber Technologies, the U.S. ride-hailing giant, announced on the 2nd that it will cut approximately 10% of its global workforce. According to U.S. media, this amounts to about 3,300 employees. The company aims to streamline its organization, speed up decision-making, and reduce costs for future investments. The cuts will focus on roles primarily involved in coordination and managerial positions with only one or two subordinates. Additionally, the company will consolidate departments and reduce the number of employees working from home. In a letter to employees released the same day, CEO Dara Khosrowshahi emphasized, "The decision we made today is difficult, but it will help build a stronger Uber over the coming years."

Uber Technologies, the US ride-hailing giant, launched an autonomous ride-hailing service in London on the 3rd, using artificial intelligence (AI) technology developed by UK-based Wayve. This makes London the second European city to introduce robotaxis, following Zagreb. The two companies said that initially, certified operators will ride along to monitor the vehicles, with fully driverless operations to begin at some point in the future. Fewer than 20 vehicles are available at launch. Regulatory hurdles remain for launching fully driverless services in London, including delays in procedures at Transport for London, the licensing authority. Sarfraz Maredia, Uber's global head of autonomous driving, said the launch "builds trust not only with consumers but also with governments." Transport Secretary Alexander said, "This is a major milestone for the future of transport in London. UK innovation is bringing this technology to public roads and offering passengers more choice." The two companies explained that Wayve's AI driver learns from experience like a human driver and can adapt to new roads, vehicles, weather, and cities. In 2024, Uber partnered with Wayve, including an investment, aiming to deploy vehicles equipped with Wayve's technology in multiple markets in the future.

Delivery Hero's board has endorsed Uber's $15 billion takeover offer and recommended that shareholders approve the deal, which would create one of the world's largest on-demand food delivery platforms. The supervisory and management boards deemed the price "fair and adequate" and highlighted the potential to accelerate product innovation. The acquisition would double Uber's global footprint and strengthen its competitive position against DoorDash and Just Eat Takeaway. Uber, already Delivery Hero's largest shareholder, set a minimum acceptance threshold of 50% plus one share, and fellow investor Prosus has agreed to sell its 17% stake. This deal follows a wave of consolidation in the delivery sector, including Uber's $335 million acquisition of Getir, Grab's $600 million purchase of Foodpanda Taiwan, and DoorDash's $3.87 billion takeover of Deliveroo.

Delivery Hero's management and supervisory boards have endorsed Uber Technologies' $14.8 billion takeover bid, recommending that shareholders accept the offer. The Berlin-based company stated that the boards independently reviewed the offer and deemed it in the best interest of the company, its shareholders, employees, and other stakeholders. Uber announced the acquisition agreement in July, valuing Delivery Hero at $14.8 billion, after gradually increasing its stake to become the largest shareholder. The deal, which follows a rejected €38 per share offer, would combine two of the world's largest food delivery platforms amid ongoing industry consolidation, including DoorDash's acquisition of Deliveroo and Prosus's takeover of Just Eat Takeaway.com. As part of the transaction, Prosus has agreed to divest its remaining Delivery Hero shares to Uber.

Uber Technologies Inc. is cutting up to 10% of its workforce as part of a restructuring aimed at making the company more nimble and efficient, with CEO Dara Khosrowshahi directing resources toward autonomous driving and other key growth areas. The layoffs will reduce managerial levels, streamline teams, and increase staffing at hubs like New York and San Francisco, while remote work will be limited to about 1% of employees. Khosrowshahi noted that sales have tripled but also made the company more complex, prompting the need for change. The company plans to focus on drivers, couriers, merchants, and what he called the autonomous future, which may require significant investment before generating large revenues. Investors reacted positively, with Uber shares rising over 2% in premarket trading Wednesday, while Lyft also gained.

Uber Technologies shares rose about 2% Wednesday after the company announced a restructuring that will cut roughly 3,300 positions, about 10% of its global workforce, as part of an effort to simplify its corporate structure. The company also plans to reduce management positions by 20% and cut the number of very small teams by nearly half. Savings will be redirected toward its main transportation and delivery operations, as well as its robotaxi business. Several internal groups will be combined, and most fully remote positions will be eliminated, leaving such roles at about 1% of the workforce, with employees concentrated around hubs including New York and San Francisco. The move follows a weaker period for Uber shares, which have faced pressure from growing competition in autonomous transportation.

Uber is cutting its workforce by as much as 10% and streamlining management to focus on core businesses, CEO Dara Khosrowshahi announced. The restructuring aims to make the company "simpler and faster" by removing redundant layers, concentrating global teams in New York and San Francisco, and limiting remote work to about 1% of employees. The move supports Uber's heavy investment in autonomous driving, which requires significant capital. Shares rose over 2% in premarket trading following the announcement.