Uber to Lay Off 3,700 Workers and CEO to Waive Salary
By Associated Press
Published 4 years ago on
May 6, 2020
Share
NEW YORK — Uber is cutting 3,700 full-time workers and its CEO will give up his base salary with the nation largely still in lockdown.
The San Francisco company said Wednesday that the layoffs and related costs like severance will reach about $20 million.
Uber Technologies Inc. had already imposed a hiring freeze and has offered up to 14 days of financial assistance to drivers and delivery workers who were diagnosed with COVID-19, or placed in quarantine.
Chief Executive Dara Khosrowshahi will waive his base salary through year-end.
The company, which is scheduled to report quarterly financial results after the bell Thursday, said it is evaluating other cost cuts.
RELATED TOPICS:
Tabloid Publisher Says He Pledged to Be Trump Campaign’s ‘Eyes and Ears’ During 2016 Race
Politics /
15 hours ago
General Motors Reports Strong First-Quarter Profits as Prices Help Offset Small US Sales Dip
Business /
15 hours ago
Caitlin Clark Is Set to Sign a New Nike Deal Valued at $28 Million Over 8 Years, Reports Say
Sports /
16 hours ago
A Far-Right German EU Lawmaker’s Aide Is Arrested on Suspicion of Spying for China
World /
17 hours ago
Wall Street Rallies and Adds to Its Hot Start to the Week
Economy /
17 hours ago
Tent Compound Rises in Southern Gaza as Israel Prepares for Rafah Offensive
Satellite photos analyzed by The Associated Press appear to show a new compound of tents being built near Khan Younis in the southern Gaza S...
World /
11 hours ago
Categories
Latest
Videos
World /
11 hours ago
Tent Compound Rises in Southern Gaza as Israel Prepares for Rafah Offensive
Politics /
11 hours ago
Costa Seeks Legislation to Prevent Reedley Lab Repeat
Politics /
15 hours ago
Tabloid Publisher Says He Pledged to Be Trump Campaign’s ‘Eyes and Ears’ During 2016 Race
Business /
15 hours ago