Uber Technologies will cut about 3,700 full-time jobs and chief executive Dara Khosrowshahi will forgo his base salary for the remainder of the year, the company said today.
The moves come as the Covid-19 pandemic decimates Uber's lift hailing business. The company said the layoffs included its customer support and recruiting teams, and it expects to incur about $20m in costs for severance and related charges.
Uber and rival Lyft have already withdrawn their full-year financial outlooks as demand for app-based rides dropped sharply across the world after governments imposed stay-at-home orders to curb the transmission of the coronavirus.