CAIRO, May 6 (Reuters) – Uber Technologies Inc laid off hundreds of office-based staff in Egypt on Wednesday as the ride-hailing firm made wider cuts amid the fallout from the new coronavirus, one current and two former employees said. The former employees, both of whom lost their jobs on Wednesday, and one employee who retained… Continue reading Uber lays off hundreds in Egypt amid global cuts, staff says
Tag: Uber
Lyft sees rider demand rebound in late April, ‘on path to profitability’
(Reuters) – Lyft Inc (LYFT.O) on Wednesday surprised investors with higher-than-expected revenue and the ride-hailing company vowed further cost cuts to become profitable as the U.S. coronavirus lockdown batters the economy. FILE PHOTO: A Lyft driver wears a mask during the coronavirus outbreak, as he leaves passengers in the U.S. Capitol Hill neighborhood in Washington,… Continue reading Lyft sees rider demand rebound in late April, ‘on path to profitability’
UPDATE 1-Uber to cut 3,700 jobs, CEO Khosrowshahi to waive base salary
FILE PHOTO: Uber’s logo is pictured at its office in Bogota, Colombia, December 12, 2019. REUTERS/Luisa Gonzalez (Reuters) – Uber Technologies Inc (UBER.N) will cut about 3,700 full-time jobs and Chief Executive Officer Dara Khosrowshahi will forgo his base salary for the remainder of the year, the company said on Wednesday, as the COVID-19 pandemic… Continue reading UPDATE 1-Uber to cut 3,700 jobs, CEO Khosrowshahi to waive base salary
Uber to cut 3,700 full-time jobs; CEO to waive base salary
FILE PHOTO: Uber’s logo is pictured at its office in Bogota, Colombia, December 12, 2019. REUTERS/Luisa Gonzalez (Reuters) – Uber Technologies Inc (UBER.N) said on Wednesday it will cut about 3,700 full-time jobs and Chief Executive Officer Dara Khosrowshahi will waive his base salary for the remainder of the year. The ride-hailing company expects to… Continue reading Uber to cut 3,700 full-time jobs; CEO to waive base salary
Uber rival Bolt aims to launch scooters in 45 cities
TALLINN, May 6 (Reuters) – Estonian ride-sharing service Bolt on Wednesday launched its own electric scooter model and said it aims to launch the scooter service in more than 45 cities this summer. Bolt, which has grabbed business from Uber mostly in major African cities and Eastern Europe, has more than 30 million users in… Continue reading Uber rival Bolt aims to launch scooters in 45 cities
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)
Car rental firm Hertz gets more time from lenders to avoid bankruptcy
May 5 (Reuters) – Struggling car rental company Hertz Global Holdings Inc said on Tuesday its lenders have extended the deadline for certain loan repayments, giving it more time to come up with a financing plan to avoid a possible bankruptcy. The deadline has now been extended until May 22, the company said in a… Continue reading Car rental firm Hertz gets more time from lenders to avoid bankruptcy
Uber partners with CloudTrucks to help drivers get trucking jobs
Uber has partnered with trucking startup CloudTrucks to make it easier for its ride-hail drivers to get jobs as truckers during the pandemic. Described as a “business in a box,” CloudTrucks is designed to make it easier for truck owners and operators to run their businesses. Through software and data science, CloudTrucks aims to reduce… Continue reading Uber partners with CloudTrucks to help drivers get trucking jobs
As Uber (reportedly) squeezes Lime, scooter startups run low on juice
Hello and welcome back to our regular morning look at private companies, public markets and the gray space in between. In December of 2019, this column wrote an entry detailing Uber’s micro-mobility efforts. Just six months ago — a mere two quarters — Uber’s Jump team was on the record saying that its parent company… Continue reading As Uber (reportedly) squeezes Lime, scooter startups run low on juice
Uber is reportedly considering another investment in Lime, in a round that would sink the embattled scooter startup’s valuation by nearly 80% — and give Uber the option to buy it in 2 years
Uber is reportedly considering leading a $170 million emergency fundraising round for the scooter startup Lime, according to the Information. The terms of the deal will hit the scooter startup hard. The round will reportedly slash Lime’s valuation to $510 million, a 79% slide from the startup’s whopping valuation of $2.4 billion in 2018. As… Continue reading Uber is reportedly considering another investment in Lime, in a round that would sink the embattled scooter startup’s valuation by nearly 80% — and give Uber the option to buy it in 2 years