The 25% of Uber’s global workforce laid off in May will receive a fairly generous severance package of at least 10 weeks pay and healthcare paid for all of 2020. Uber says explained to us the special assistance it is offering to visa holders and new parents still out on parental leave who got cut.… Continue reading Uber is offering its nearly 7,000 laid off employees a generous severance package including at least 10 weeks’ pay, stock, and healthcare until the end of 2020 (UBER)
Author: Business Insider
Uber’s CEO told employees that he hopes — but doesn’t promise — the company is done with layoffs in the future
Uber will lay off 3,000 more employees starting this week, the company announced Monday, bringing the total layoffs this month to 6,700. The layoffs represent a quarter of the company’s total workforce worldwide. The coronavirus pandemic has led Uber’s profits to dip as much as 80% across the board. In an email to staff Monday,… Continue reading Uber’s CEO told employees that he hopes — but doesn’t promise — the company is done with layoffs in the future
As Uber cuts 25% of its global workforce, many European employees still don’t know ‘if we’ll be fired or not’ (UBER)
While Uber employees in the US heard on Monday about the second major round of job cuts at the company, those in Europe are still waiting. Because of the complexities of government regulation around pandemic-related permanent layoffs, Uber was not able to tell all impacted employees about the cuts on Monday, the company said in… Continue reading As Uber cuts 25% of its global workforce, many European employees still don’t know ‘if we’ll be fired or not’ (UBER)
‘I am truly sorry’: Read the full email Uber’s CEO sent employees after laying off 25% of the company’s staff in 2 weeks (UBER)
Uber on Monday confirmed Business Insider’s reporting that it planned to lay off 3,000 more workers in addition to its previous round of 3,700 job cuts earlier this month. Together, the layoffs represent about a quarter of the company’s entire global workforce, which stood at 28,600 at the end of March. In an email to… Continue reading ‘I am truly sorry’: Read the full email Uber’s CEO sent employees after laying off 25% of the company’s staff in 2 weeks (UBER)
Uber confirms it will lay off thousands more employees and close 40 offices to further cut costs (UBER)
Uber on Monday confirmed that it would cut 3,000 more jobs while closing dozens of offices and scaling back money-losing bets to slow steep revenue losses incurred because of the coronavirus pandemic. The announcement by CEO Dara Khosrowshahi follows a Business Insider report over the weekend by Julie Bort that more layoffs were imminent. Coupled… Continue reading Uber confirms it will lay off thousands more employees and close 40 offices to further cut costs (UBER)
Wall Street loves the idea of Uber buying its competitor Grubhub, but analysts warn getting the deal done amid a pandemic won’t be easy (UBER, GRUB)
Almost as quickly as GrubHub’s stock price skyrocketed following reports Uber had made a takeover bid, so too came the backlash. The potential deal would create a delivery megalith with market share well over 50% in major cities, but also represents a “new low in pandemic profiteering,” as David Cicilline, a congressman and head of… Continue reading Wall Street loves the idea of Uber buying its competitor Grubhub, but analysts warn getting the deal done amid a pandemic won’t be easy (UBER, GRUB)
Elon Musk has dared Alameda County to arrest him for reopening the Tesla factory. Here is a history of his weirdest fights.
1. Musk challenged Alameda County officials to arrest him for re-opening the Tesla factory during the coronavirus pandemic. AP Photo Reports surfaced this week that Tesla was asking workers in its California factory to return to wrok despite Alameda County’s shelter-in-place order forbidding the factory from re-opening as only essential businesses are allowed to operate… Continue reading Elon Musk has dared Alameda County to arrest him for reopening the Tesla factory. Here is a history of his weirdest fights.
Elon Musk says Tesla will ‘immediately’ leave California after coronavirus shutdowns forced the company to close its main car factory (TSLA)
Elon Musk says Tesla may leave its Palo Alto headquarters and Fremont, California factory. In a tweet Saturday morning, the chief executive continued his outrage against shelter-in-place orders that have forced most non-essential businesses to close. Last week, Musk likened the rules to fascism, and urged leaders to “give people their goddamn freedom back.” Visit… Continue reading Elon Musk says Tesla will ‘immediately’ leave California after coronavirus shutdowns forced the company to close its main car factory (TSLA)
Lyft surges 17% after posting a narrower-than-expected quarterly loss as coronavirus hit the ride-hailing industry (LYFT)
Reuters Shares of Lyft surged as much as 17% shortly after the market opened Thursday following the company’s better-than-expected first-quarter earnings results. Despite the impact of the coronavirus pandemic, which has hit the ride-hailing sector hard, Lyft’s results exceeded Wall Street’s expectations. The company beat estimates for revenue, and posted a narrower loss than analysts… Continue reading Lyft surges 17% after posting a narrower-than-expected quarterly loss as coronavirus hit the ride-hailing industry (LYFT)
Uber CEO tells employees that it is finalizing layoffs as fears circulate among staff that 4,000 jobs will be cut (UBER)
Uber’s CEO told employees during an all-hands meeting on Tuesday that it was close to finalizing layoffs, saying that plans would be announced within two weeks. Some employees think layoffs could hit next week, with one source telling Business Insider that the company could trim 4,000, including attrition. The company has already slashed jobs at… Continue reading Uber CEO tells employees that it is finalizing layoffs as fears circulate among staff that 4,000 jobs will be cut (UBER)