Uber to lay off 3,700 workers
CEO to waive salary for the rest of the year
NEW YORK, N.Y. (KYMA, KECY) - Uber says it will lay off 3,700 full-time workers. That's about 14% of the ridesharing company's workforce.
Most of the cuts come to customer support and recruitment. Uber expects to pay out approximately $20-million in severance and termination benefits.
The company had already imposed a hiring freeze. It also offered up to 14-days of financial assistance to any driver or delivery person diagnosed with coronavirus, or forced into quarantine.
Uber CEO Dara Khosrowshahi says he will forego collecting his base salary through the end of the year. Khosrowshahi says the company is looking at other ways to cut costs.
