Uber is planning to lay off 3,700 employees, which is about 14% of it’s work force.
This new decision of uber was according to a filling provided by uber to the security exchange commission today.
According to uber;
“Due to lower trip volumes in its Rides segment and the Company’s current hiring freeze, the Company is reducing its customer support and recruiting teams by approximately 3,700 full-time employee roles.”
This decision is influenced by the decision of other two firms, Airbnb and Lyft who recently cut down their work force.
The CEO of Uber, Dara Khosrowshahi, He will forgo his salary of $1 million for the rest of the year even though it was alleged by CNBC that most of his compensations comes from bonuses and stock awards.
The decision of the CEO of uber seems to be reasonable as the demand for uber has decreased due to the COVID-19.
Despite all the preventive measures taken by the firm to protect it’s workers from being affected by the virus, ride request dropped as much as 80%.