Uber will lay off 3,700 employees to keep costs down as ridership is in freefall

nanoguy

Posts: 653   +11
Staff member

In a filing with the Securities and Exchange Commission earlier today, Uber announced it will lay off 3,700 employees, which is about 14 percent of its total workforce around the world. Additionally, the company will permanently close no less than 180 driver service centers, and this looks like it's just the beginning of a series of measures that Uber will make in the coming months in order to stay afloat.

The job cuts are from the support and recruiting teams, and the company will maintain its freeze on hiring as it tries to assess the impact of a significant drop in ridership during the last two months. For example, drivers used to have 450 "greenlight hubs" where they could sign up and get in-person support, but now those will be limited to only 270.

In an internal memo revealed by CNBC, CEO Dara Khosrowshahi noted that "days like this are brutal," and explained that the company "worked hard to put together generous severance packages with a longer period of healthcare coverage to help provide a bridge, and we are also supporting EXTs whose roles are affected by today’s decision."

Khosrowshahi will waive his base salary for the rest of the year, and said Uber will give employees "a further, final update" within the next two weeks. The CEO made $1 million in base salary in 2019, as well as additional compensation in the form of stock awards and a $2 million bonus.

In related news, Uber is reportedly planning to use some of its $10 billion pile of cash to lead an emergency investment fund in scooter startup Lime. The move would reduce the latter company's valuation just enough to make it worth buying sometime later.

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mctommy

Posts: 363   +100
How cau you "layoff employees", if they're being billed as "independent contractors", in the first place? :confused:
They are not laying off drivers, it's from their customer services and recruiting. Though drivers may as stay home since ridership is down 90%.
 

Karlos95

Posts: 144   +55
They are not laying off drivers, it's from their customer services and recruiting. Though drivers may as stay home since ridership is down 90%.
I love how some people think the whole company is contractor based. Like the CEO is on a contract LOL no salaries at all...
 

captaincranky

Posts: 16,302   +5,088
I love how some people think the whole company is contractor based. Like the CEO is on a contract LOL no salaries at all......[ ]....
Well no, "the middle men", are like ticks on the a**es of the drivers. When the blood dries up, the ticks fall off. .

I'd compare their lack of utility with the people who write Windows 10 updates, save for the fact they still have their jobs.

But I think your reading comprehension needs a bit of a "update" itself.

While the Uber CEO may "forgo his salary" this year, ($1,000,000), last year he got double that in bonuses, and more in stock.

And then again Uber is working on autonomous cars as hard, or harder, than anyone else in the industry. So, when, (or if), that comes to fruition, where would that leave the "independent contractors"?
 

captaincranky

Posts: 16,302   +5,088
They are not laying off drivers, it's from their customer services and recruiting. Though drivers may as well stay home since ridership is down 90%.
FIXED

As for answering your comment, that's in my poet #5 above. (I'm not about typing it twice).
 
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Karlos95

Posts: 144   +55
Well no, "the middle men", are like ticks on the a**es of the drivers. When the blood dries up, the ticks fall off. .

I'd compare their lack of utility with the people who write Windows 10 updates, save for the fact they still have their jobs.

But I think your reading comprehension needs a bit of a "update" itself.

While the Uber CEO may "forgo his salary" this year, ($1,000,000), last year he got double that in bonuses, and more in stock.

And then again Uber is working on autonomous cars as hard, or harder, than anyone else in the industry. So, when, (or if), that comes to fruition, where would that leave the "independent contractors"?
Well maybe your sentencing needs an "update". Especially when your sentence doesn't have a fact in it.

That is at least a good 10 years away. By the way. Most things can be autonomous these days. Just another reason why Gov should be paying a UBI. Everything that could be juiced from slave labour is now gone thanks to your generation.

Every person who thinks money is the answer is the problem with society to start with. I mean, the elites just wiped 20% off your super/401ks with a virus to keep the young working until they are at least 50 and try to kill the old and frail who are a bore to the "system".
 
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captaincranky

Posts: 16,302   +5,088
Well maybe your sentencing needs an "update". Especially when your posts don't have a fact in it.
FIXED..! (I wrote more than , "a sentence)

That is at least a good 10 years away. By the way. Most things can be autonomous these days. Just another reason why Gov should be paying a UBI. Everything that could be juiced from slave labour is now gone thanks to your generation.
Oh, I don't know, many people didn't consider working in a factory, "slave labor". In fact they even put stickers on their product "assembled by", or, "inspected by", and earned pride from doing so.

Whether it's next year or ten years from now, Uber is dumping tons of money into autonomous cars, the net result will still be the same, getting rid of its "independent contractors". Are you trying to claim that's not a fact?

Every person who thinks money is the answer is the problem with society to start with. I mean, the elites just wiped 20% off your super/401ks with a virus to keep the young working until they are at least 50 and try to kill the old and frail who are a bore to the "system".
Gosh, and you talk about me "not posting facts". As it happens even the Prime Minister of England spent time in the hospital battling Covid19. He is an "elite" wouldn't you say?

As conspiracy theories go, yours is pretty far fetched to say the least.

And BTW, your generation is the one that now requires "automatic braking" in today's automobiles, to prevent chronic attention dependent, imploding, "selfis snapping, millennials, from walking out in the middle of the street while screwing around with their cellphones.

So, you stick to that laptop writing game code because, "it's the only thing that matters", One day you'll wake up with nothing to eat, and the vending machine will be empty, since all those "slaves" in food production will be gone, your computer parts will be late, since those autonomous trucks will absolutely obey the speed limits, and god forbid you need paper documents since the postman will be gone as well..

FWIW, here's how "self awareness" is tested for in animals


To me it seems, "selfies" are nothing, if not an extension of that principle.
 
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Karlos95

Posts: 144   +55
FIXED..! (I wrote more than , "a sentence)

Oh, I don't know, many people didn't consider working in a factory, "slave labor". In fact they even put stickers on their product "assembled by", or, "inspected by", and earned pride from doing so.
And what has that done for them? Poor as they were when they were doing it.

Whether it's next year or ten years from now, Uber is dumping tons of money into autonomous cars, the net result will still be the same, getting rid of its "independent contractors". Are you trying to claim that's not a fact?
Nope, quite the opposite. It will happen just like every other industry. What I am saying is it shows we need a UBI if you want globalization (Not that we do want it, just been pushed by every gov).
Gosh, and you talk about me "not posting facts". As it happens even the Prime Minister of England spent time in the hospital battling Covid19. He is an "elite" wouldn't you say?
Yes and he recovered because he is an elite and has the medical he needed. Other people won't have that care and won't be so lucky. Obviously.
As conspiracy theories go, yours is pretty far fetched to say the least.
Not far fetched at all. Still in your mainstream media bubble that you claim is all real news. I get it, can't teach an old dog new tricks.
And BTW, you generation is the one that now requires "automatic braking" in today's automobiles, to prevent chronic attention dependent, imploding, "selfis snapping, millennials, from walking out in the middle of the street while screwing around with their cellphones.
Nope, definitely not. More so the older generation that should have handed in their licenses by now but because they are ignorant in their old ways will risk countless lives while behind the wheel because their reaction time is abysmal to say the least.
BTW I drive a 95 model and drive it better than these autonomous cars. Although it would be convenient to have one. But only the oldies with their wealth hoarding can actually afford one.
So, you stick to that laptop writing game code because, "it's the only thing that matters", One day you'll wake up with nothing to eat, and the vending machine will be empty, since all those "slaves" in food production will be gone, your computer parts will be late, since those autonomous trucks will absolutely obey the speed limits, and god forbid you need paper documents since the postman will be gone as well..
I don't write code for a living lol. Nice assumptions.
I am quite capable of going out and getting my own food. But yeah, everyone is replaceable so this whole working for life thing is crazy when robots can/will produce at a higher rate and efficiently than we can. Working all your life and it takes 1 bad event to stuff multiple years of hard work financially, so yeah, definitely slave labour. Of course it is hard to show that to someone who has been fed lies by their gov/media their whole life before the age of internet and they continue to believe them and throw anything against their way of thinking under as "conspiracy theories". But I get it, you don't want to think for a second you worked all those years for nothing.
FWIW, here's how "self awareness" is tested for in animals


To me it seems, "selfies" as nothing, if not an extension of that principle.
Love your "all young people are the same" old man speak. Really shows your age.
 

captaincranky

Posts: 16,302   +5,088
And what has that done for them? Poor as they were when they were doing it.
Well, way back when, people with a trade could actually afford their own home. Your own roof over your own head, isn't poor.
Nope, quite the opposite. It will happen just like every other industry. What I am saying is it shows we need a UBI if you want globalization (Not that we do want it, just been pushed by every gov).
. Oh, I don't know,"globalization" is a monetary concept. I think humans are still "tribal" and still hold national boundaries in high regard politically.
Yes and he recovered because he is an elite and has the medical he needed. Other people won't have that care and won't be so lucky. Obviously.
Perhaps you're right to a certain extent. Yet on the news the other night, I watched them wheel a 96 year old out of the hospital, who had recovered from SARS-2. I don't have access to her financials, but I'm pretty sure she wasn't Jeff Bezos grandmother.

The poor will die because they're stupid. I watched a half dozen African Americans pass around a spitty joint the other night. I also watched, (on the news). prisoners trying infect each other with the virus, in an attempt to gain early release.
Not far fetched at all. Still in your mainstream media bubble that you claim is all real news. I get it, can't teach an old dog new tricks.
According to you, "this old dog", should deny everything that is in front of my face. For example the maps showing the spread of Covid out from China.

If that's true, I could say China released this virus to trash the US economy in retaliation for Trump's tariffs, and it would be at least as valid as your take on the origin.
Nope, definitely not. More so the older generation that should have handed in their licenses by now but because they are ignorant in their old ways will risk countless lives while behind the wheel because their reaction time is abysmal to say the least.
. Here again, I'm 71, and I get around on my 750 Nighthawk just fine. I don't have a cell phone though, so I can't answer texts or send selfies while I'm driving
BTW I drive a 95 model and drive it better than these autonomous cars. Although it would be convenient to have one. But only the oldies with their wealth hoarding can actually afford one.
You sound just bitter and jealous, but not particularly well informed.

I don't write code for a living lol. Nice assumptions.
Not really an assumption, just bait.
I am quite capable of going out and getting my own food. But yeah, everyone is replaceable so this whole working for life thing is crazy when robots can/will produce at a higher rate and efficiently than we can. Working all your life and it takes 1 bad event to stuff multiple years of hard work financially, so yeah, definitely slave labour. Of course it is hard to show that to someone who has been fed lies by their gov/media their whole life before the age of internet and they continue to believe them and throw anything against their way of thinking under as "conspiracy theories". But I get it, you don't want to think for a second you worked all those years for nothing.
That's not the problem with working all your life. The problem is with greed in every sector of the economy, particularly real estate, drugs, and perhaps most importantly, medical care. So yeah, capitaism sucks, but so does communism. Throughout history the strong have always subjugated and stolen the weaker. But hey, that's our animals instincts we think we've overcome, which is pure bullsh!t.

Love your "all young people are the same" old man speak. Really shows your age.
And you're every bit as prejudiced toward the old. Grow up.

Since it's quite unlikely I'll be alive in 2050, I frankly don't care if they start putting people down at age 30, the way they did in "Logan'e Run".
 
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Karlos95

Posts: 144   +55
Well, way back when, people with a trade could actually afford their own home. Your own roof over your own head, isn't poor.
Back when 1 member of the family could afford to pay for everything because houses were less than 50k. Now boomers have at least 3 houses and hoard them and turn that 50k house into 600k. Not keeping up with wages at all. So yeah. Has nothing to do with job.
. Oh, I don't know,"globalization" is a monetary concept. I think humans are still "tribal" and still hold national boundaries in high regard politically.
Perhaps you're right to a certain extent. Yet on the news the other night, I watched them wheel a 96 year old out of the hospital, who had recovered from SARS-2. I don't have access to her financials, but I'm pretty sure she wasn't Jeff Bezos grandmother.
That's is why I wrote "lucky" some will come out alive, some won't. But you have better chances when you are the elite.
The poor will die because they're stupid. I watched a half dozen African Americans pass around a spitty joint the other night. I also watched, (on the news). prisoners trying infect each other with the virus, in an attempt to gain early release.
Is it stupidity or lack of medical care? I mean most nations are doing ok considering their numbers. Seems to be the lack of medical support in the "great" USA that more people are dying.
According to you, "this old dog", should deny everything that is in front of my face. For example the maps showing the spread of Covid out from China.

If that's true, I could say China released this virus to trash the US economy in retaliation for Trump's tariffs, and it would be at least as valid as your take on the origin.
Not everything. But a lot of the stuff on the news has been a way to manipulate the way you think and you have believed it a lot longer than the internet has been around to fact check that. I can tell you right now most news outlets sway a certain agenda or put out false info for higher ratings. That is a proven fact.
. Here again, I'm 71, and I get around on my 750 Nighthawk just fine. I don't have a cell phone though, so I can't answer texts or send selfies while I'm driving
You sound just bitter and jealous, but not particularly well informed.
Maybe you should say not all oldies are the same, in the same sense you think all young people are the same. Maybe have some perspective. I know some old people can drive. I have a 92 year old grandpa still driving fine today. Doesn't take away from the fact that I still see more oldies causing accidents than I do young people on their phones.
Not really an assumption, just bait.
Seen better bait from 12 year olds.

That's not the problem with working all your life. The problem is with greed in every sector of the economy, particularly real estate, drugs, and perhaps most importantly, medical care. So yeah, capitaism sucks, but so does communism. Throughout history the strong have always subjugated and stolen the weaker. But hey, that's our animals instincts we think we've overcome, which is pure bullsh!t.
Depends really, should be more days off. Also you can take a bit of every regime and it will be either good or bad, this whole political crap about a certain political system being all bad is nuts. Basically a religion following (which is also nuts in my opinion) to blindly follow it all to the letter and not critise certain points of that system which is immoral to not do so.


And you're every bit as prejudiced toward the old. Grow up.
Nope. Just the ones who cannot realise times have changed a lot since their heyday and will continue to change a lot more rapidly each decade as technology advances. So their outdated opinions need to be corrected. Or you know, just leave it to who's lives will actually be effected in the next 10 years.
Since it's quite unlikely I'll be alive in 2050, I frankly don't care if they start putting people down at age 30, the way they did in "Logan'e Run".
Yep another oldie thing to say. Live your life, pay all your debts before the age of 50 (because everything was inexpensive then) and then be retired and a bore on the system for a further 40 years at the same time telling how easy the "young" have it when really they don't compare to your life, your generation had it the easiest. Everything cheap, easier to find work, can actually retire before 60.
Obviously this doesn't describe every old person, but it seems you don't have to tell this to them as they aren't the ones complaining about other people. Just the ones that have already juiced the system as much as they could and now expect younger people to have a much worse experience than they did because "who cares, it isn't me and I'll be dead soon."
 

captaincranky

Posts: 16,302   +5,088
Back when 1 member of the family could afford to pay for everything because houses were less than 50k. Now boomers have at least 3 houses and hoard them and turn that 50k house into 600k. Not keeping up with wages at all. So yeah. Has nothing to do with job.
That's is why I wrote "lucky" some will come out alive, some won't. But you have better chances when you are the elite.
And here I thought you didn't have the need to explain yourself to me.

Is it stupidity or lack of medical care? I mean most nations are doing ok considering their numbers. Seems to be the lack of medical support in the "great" USA that more people are dying.
Well it's likely both, but the stupidity of the poor, particularly black Americans, are certainly exacerbating their own problems. I mean if you can't afford medical care, (and who can these days), then you should avoid risky behaviors.

Not everything. But a lot of the stuff on the news has been a way to manipulate the way you think and you have believed it a lot longer than the internet has been around to fact check that. I can tell you right now most news outlets sway a certain agenda or put out false info for higher ratings. That is a proven fact.
That's been going on for decades, likely much longer.My father, (a Republican), used to get Time magazine. The first "time" (pun not intended, got got a hold of a copy of "Newsweek", I couldn't believe the polar opposite spin on the same news.

The internet is also loaded with memes, and "fake news", as much or more than mainstream media. For instance, "26 senators and congressmen have dual citizenship with Israel" Hell, Nancy Pelosi is a "good Catholic girl", certainly not a Jewish undercover operative.

Maybe you should say not all oldies are the same, in the same sense you think all young people are the same. Maybe have some perspective. I know some old people can drive. I have a 92 year old grandpa still driving fine today. Doesn't take away from the fact that I still see more oldies causing accidents than I do young people on their phones.
You're an insurance adjuster then? It's certainly convenient to be able to quote things "you've seen", and imagine them to be fact. In fact, I think accident investigators have begun to pull phone records to find out if a cellphone was involved in an accident. But don't worry, your insurance company, Tesla, and every other car manufacturer is now your permanent "back seat driver".

Seen better bait from 12 year olds.
But yet you bit down hard on the hook, didn't you?

Depends really, should be more days off. Also you can take a bit of every regime and it will be either good or bad, this whole political crap about a certain political system being all bad is nuts. Basically a religion following (which is also nuts in my opinion) to blindly follow it all to the letter and not critise certain points of that system which is immoral to not do so.
For once we almost agree on something. IMO, "The Holy Roman Catholic Church", is the biggest hoax ever perpetrated on mankind, and then inflicted on the rest of the world. Maybe Jesus wasn't really dead, he might have been unconscious.

Nope. Just the ones who cannot realise times have changed a lot since their heyday and will continue to change a lot more rapidly each decade as technology advances. So their outdated opinions need to be corrected. Or you know, just leave it to who's lives will actually be effected in the next 10 years.
No, I think we're destroying the planet for our young by having too many more of them. You young 'uns seem to think Elon Musk has a solution for all our problems, population be damned.[/quote] Is that all you've got? To spout a bunch of self righteous crap about how being young means you know it all?

Yep another oldie thing to say. Live your life, pay all your debts before the age of 50 (because everything was inexpensive then) and then be retired and a bore on the system for a further 40 years at the same time telling how easy the "young" have it when really they don't compare to your life, your generation had it the easiest. Everything cheap, easier to find work, can actually retire before 60.
Obviously this doesn't describe every old person, but it seems you don't have to tell this to them as they aren't the ones complaining about other people. Just the ones that have already juiced the system as much as they could and now expect younger people to have a much worse experience than they did because "who cares, it isn't me and I'll be dead soon."
You young folk are digging your own graves. Us "oldies " just like to watch.

Now why don't you run along and use your literary skills to join in the latest "Intel bad, AMD good" threads. Or maybe login to a new phone offering thread.

The best thing I can say for a large percentage of this generation, is that they've "evolved" from "monkey see, monkey do", to "monkey see, monkey want".
 

captaincranky

Posts: 16,302   +5,088
Uber's problem, in as much as they created it themselves, is the fact that it's currently "top heavy:, since they assumed ridership would increase, as opposed to falling off as much as it did. Thus the layoffs.

The independent contractor's problem, is that they assumed what was intended to be a part time job for beer, pizza, and tuition money, would become a "career".

Keep in mind, that would mean they would become "taxi drivers", for which all of the Uber, "independent contractors" almost to a man, displayed such scathing scorn.

So, as to the Uber layoffs the best can say is, "tough sh!t", another ".com" might bite the dust. Good riddance.