Uber Freight cuts 150 jobs, about 3% of the unit’s headcount

Uber Freight has laid off 150 workers, or about 3% of the section’s complete headcount.

The layoffs impression the division’s Digital Brokerage staff, Uber Freight CEO Lior Ron mentioned in a Monday message seen by CNBC. They’re the first layoffs since 2020, in the early weeks of Covid lockdowns.

Uber launched its freight unit in 2017 with a perception that trucking corporations and laden items could possibly be matched utilizing the similar idea that underpinned the firm’s ride-hailing expertise. The unit booked $1.8 billion in income for the third quarter of 2022, up 336% yr over yr.

“As you know, the logistics market is currently facing a number of headwinds which has impacted our customer base as well as the overall industry,” Ron instructed workers. “We accelerated hiring last year within certain areas of our Brokerage business, planning for a different economic reality, but the volumes did not materialize as expected.”

Uber CEO Dara Khosrowshahi mentioned last week at the World Financial Discussion board in Davos that he is not planning companywide layoffs.

The cuts observe far deeper tech layoffs at Alphabet, Meta, Amazon, Microsoft, and Twitter. In Nov. 2022, supply service DoorDash laid off 1,250 employees, or 6% of its headcount, weeks after ride-sharing platform Lyft reduce 13% of its headcount.

Laid-off workers “will be extended departure packages and support that includes severance, extended healthcare and 2022 bonus payment, outplacement and career support, and if applicable, immigration services,” Ron mentioned.

Uber releases its 2022 full-year earnings on Feb. 8.

Source link

Bed Bath & Beyond, Verizon, Lululemon and more Previous post Bed Bath & Beyond, Verizon, Lululemon and more
Lyft, 3M, Lululemon and more Next post Lyft, 3M, Lululemon and more