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.
Uber Technologies IncUber announces 10% workforce cut and restructuring to improve efficiency, supporting autonomous driving investment; shares rose.
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