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)
Tag: Mobility
‘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)
Waymo expands first external investment round to $3 billion
Waymo has added an additional $750 million to the $2.25 billion funding round that it first announced in March, bringing the total size of the financing (its first from investors outside of Alphabet) to $3 billion. The extension comes from new investors, including those managed by T. Rowe Price, Perry Creek Capital, Fidelity Management and… Continue reading Waymo expands first external investment round to $3 billion
UPDATE 2-Uber to focus on core rides, delivery business as cuts more jobs
(Reuters) – Uber Technologies Inc (UBER.N) will concentrate on its core businesses in ride-hailing and food delivery, Chief Executive Officer Dara Khosrowshahi said in an email to employees on Monday, announcing the company’s second round of job cuts during the coronavirus pandemic. FILE PHOTO: Uber’s logo is pictured at its office in Bogota, Colombia, December… Continue reading UPDATE 2-Uber to focus on core rides, delivery business as cuts more jobs
Uber lays off another 3,000 employees
Uber is laying off another 3,000 employees, the Wall Street Journal first reported. Uber is also closing 45 offices, and rethinking its approach in areas like freight and autonomous vehicle technology. “I knew that I had to make a hard decision, not because we are a public company, or to protect or stock price, or… Continue reading Uber lays off another 3,000 employees
The first Vision Fund is officially done investing (and spent $100M every day of its existence)
There is a flurry of news out of SoftBank this morning, which announced its Fiscal Year 2019 (ending March 31, 2020) financial results overnight. It’s been a bad year for the Vision Fund, with huge losses at WeWork and Uber due to corporate incompetence, intrigue, and of course, COVID-19. But buried a bit in the… Continue reading The first Vision Fund is officially done investing (and spent $100M every day of its existence)
Uber to lay off 3,000 workers in second cut this month
May 18 (Reuters) – Uber Technologies Inc said on Monday it would cut about 3,000 jobs, in addition to the 3,700 it had announced earlier this month, as coronavirus-led restrictions sap demand for ride-hailing services. The company, which is also in talks with GrubHub Inc to reinforce its food delivery business, said it plans to… Continue reading Uber to lay off 3,000 workers in second cut this month
BYD Delivered 15 Electric Buses To Madrid
Madrid receives pure-electric BYD 12-metre eBus fleet BYD, Europe’s leading electric bus manufacturer, has this week delivered a fleet of 15 BYD 12-metre pure electric buses to the Municipal Transport Company of Madrid – EMT Madrid. The handover marks the first time that BYD has supplied vehicles to EMT Madrid, Spain’s largest public transport provider… Continue reading BYD Delivered 15 Electric Buses To Madrid
WABCO and ZF Receive Regulatory Clearance in the People’s Republic of China for their Proposed Merger; Announce Expected Closing Date
BERN, Switzerland and FRIEDRICHSHAFEN, Germany, May 15, 2020 (GLOBE NEWSWIRE) — WABCO Holdings Inc. (“WABCO”) (NYSE: WBC) (www.wabco-auto.com) and ZF Friedrichshafen AG (“ZF”) today announced that the Chinese State Administration for Market Regulation provided regulatory clearance for their previously announced merger.All required regulatory approvals have now been received and WABCO and ZF expect to close… Continue reading WABCO and ZF Receive Regulatory Clearance in the People’s Republic of China for their Proposed Merger; Announce Expected Closing Date