Uber Technologies announced it will cut about 3,300 jobs, roughly 10% of its workforce, which stood near 34,000 at the end of last year. This restructuring, the largest since May 2020 when it cut about 6,700 roles, aims to remove management layers, consolidate teams, and reduce costs. The company reduced employees sitting seven or more reporting layers below CEO Dara Khosrowshahi by 20% and cut micro-teams with one or two direct reports by nearly half. Khosrowshahi cited complexity slowing decision-making, but did not attribute the cuts to AI. Uber will also concentrate global teams in New York and San Francisco, requiring most remote workers to relocate, and limit fully remote roles to about 1% of staff. The move follows a year in which Uber shares fell nearly 8%, underperforming the S&P 500 amid concerns about autonomous competitors like Waymo.
Uber Technologies IncUber cuts 3,300 jobs in restructuring to reduce costs and streamline operations, following a year of share decline.
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