Ride-hailing giant Uber is laying off 200 employees in its recruitment division in a cost-cutting exercise. According to a report in The Wall Street Journal, the latest cuts account for 35 per cent of Uber's recruiting team. Earlier this year, the company had cut 150 jobs from its freight services division. The company had announced in May that it would maintain a flat workforce. Uber has also expressed confidence in achieving its targeted revenue by the end of 2023.
17% reduction in workforce
Since the beginning of the epidemic, the company has reduced its employees by 17 per cent till date. In 2020, Uber cut around 6,700 jobs in two rounds of major job cuts. After laying off 3,500 employees in May 2020, the ride-sharing firm had announced that it would cut 3,000 more jobs in its second round of layoffs. In the first quarter of this year, ride-hailing major Uber reported a 24 per cent increase in ridership to 2.1 billion, or approximately 24 million per day on average.
According to Uber CEO Dara Khosrowshahi, the company posted a 32 per cent growth in improving earnings. Along with this, the growth of the first quarter has increased from 19 per cent to 24 per cent. The CEO said that he is focused on increasing profits in 2023 to stand tall with the market leading top players.
