Uber Technologies Inc. has laid off about 350 employees as part of its ongoing effort to curb its losses, which reached a record $5.2 billion last quarter. The cuts, announced Monday, represent the third and final round of staff reductions made under a restructuring initiative the company launched earlier this year. Uber previously laid off […]
A bumpy ride to profitability: Uber lays off 350 staff in latest cuts Read More »
Uber Technologies Inc. is merging its food delivery service into its main ride hailing app to provide users with a single destination for accessing on-demand transportation. The integration is one of several upcoming changes Uber previewed today at an event in San Francisco. The company is looking to provide a smoother user experience for customers who rely
Uber brings its ride hailing and food delivery businesses together in a single app Read More »
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Why Amazon and Uber are facing new scrutiny over contract workers – GeekWire Read More »
Back in June Uber went on a hiring spree in New York, hiring at least 100 fintech-oriented tech workers to ostensibly look at creating products to increase loyalty and engagement among users and drivers, including things like banking. Cue a flurry of speculation. It now looks like Uber is taking baby-steps towards building such a
California politician Lorena Gonzalez criticised the companies for pledging tens of millions of dollars when they previously claimed they could not pay drivers minimum wage. On Thursday (29 August), Uber and Lyft took a significant step to ensure that drivers using the platforms would remain as contractors, rather than become recognised as employees. The companies
Uber and Lyft pledge $60m to ensure drivers don’t become employees Read More »
Text size Former CEO of Cisco Systems, John Chambers Thibault Camus/Getty Images For 20 years, John Chambers was the face, voice, brains, and–yes–conscience of Cisco Systems (CSCO), a pillar of the internet economy now valued at $216 billion. Today, from his sprawling Palo Alto, Calif., home overlooking the San Francisco Bay, he operates a “purpose-driven
After Cisco, John Chambers Is Still Dreaming Big About Tech Read More »
“Scale is the primary driver toward profitability,” says Uber CEO Dara Khosrowshahi. “It’s getting big. We’ve got over a billion rides per quarter and we’ve got trips growing at 35 percent on a year on year basis. It’s a combination of growing top-line over 35 percent, technology innovation to delight the customer and take costs
Uber CEO Reveals Formula To Profitability Read More »
It’s hard at times not to feel sorry for Uber CEO Dara Khosrowshahi, given all that he inherited when he became the ride-share giant’s top boss back in April 2017. Among his many to-do items: take public a money-losing company whose private-market valuation had already soared past what many thought it was worth, clean-up the
“Not only do we expect to hit cashflow break-even, but we expect this business to be very profitable at maturity,” says Uber CEO Dara Khosrowshahi. “I think that going forward our spending declines as a percent of revenue. So when you’re growing trips 35 percent year on year your spending is going to increase. But
We Expect This Business To Be Very Profitable Read More »
“Virtual restaurants is a very interesting initiative,” says Uber Eats EMEA head Rodrigo Arevalo. “Basically by leveraging the data on our platform, we can partner with other restaurants in order to cuisine types that only exist on food delivery platforms. If there is not a restaurant in a certain neighborhood we will partner with restaurants
Virtual Restaurants Helping Power Uber Eats Growth Read More »
