Additional round of layoffs at Uber

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Uber announced an additional round of layoffs Tuesday, this time from its product and engineering teams. A total of 435 people are to be laid off, or around 8 percent of the ride-hailing company’s entire workforce. The news comes a few months after Uber said it would be cutting 400 employees from its marketing division.

This latest round of layoffs comes after a bad second quarter for Uber, with the company missing its revenue projections and reporting a record $5.2 billion net loss. In August, Uber confirmed that it had put in place a hiring freeze on new software engineers and product managers, but now — even as it cuts hundreds of workers — the company says that freeze has been lifted.

In another development, Uber is shutting down its electric bike business in two more cities in the United States. Jump, Uber’s brand focused on electric bikes and scooters, will halt operations next week in San Diego and from Atlanta, but its scooters will remain in the city

Via TechCrunch/CNN

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