Uber’s CEO Says Company Is ‘Recession Resistant,’ Sees No Job Cuts

Uber’s CEO Says Company Is ‘Recession Resistant,’ Sees No Job Cuts

An Uber spokesperson, Matt Kallman, confirmed the cutbacks. “We are extremely thankful for the contribution of each Postmates team members,” Mr. Kallman declared. “While we’re delighted to welcome many new members of the team to Uber but we’re sad to say goodbye to some. We are thrilled to continue building upon the amazing work that this team of experts has already completed.”

Food delivery has become a key component for Uber since the disease’s impact on travel has significantly harmed its ride-hailing service. Dara Khosrowshahi, Uber’s chief executive officer, has cited food delivery as an area of opportunity in the past. In 2016, Uber Eats’ revenue exceeded that of the ride-hailing industry in the very first instance when customers ordered more meals to be delivered directly to homes.

Uber, a company that makes money, cut the sack of several hundred workers in the year 2019 to bring expenses under control. It currently has greater than 21,000 full-time workers. The employees are self-employed.

While Uber has proven to be a leader in its food delivery, it’s faced stiff competition from competitors with deep pockets who have tried to increase market share by providing discounts for delivery and discounts.

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DoorDash is a delivery service that was first publicized in December. It has seen rapid growth over the past couple of years and recently purchased the food delivery company Caviar. Other major rivals comprise Just Eat Takeaway, which beat Uber to purchase Grubhub in the year 2000 for $7 billion. Then there’s Deliveroo, a delivery service that is well-liked in Europe.

Uber has reduced other companies in the hopes of becoming profitable this year’s end. In December, it shed its autonomous vehicle segment, Uber ATG, and eliminated its flying car division, Uber Elevate. Both of these efforts cost money.

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Chris Evan was born in Dubai and raised in Montreal. He studied Computer Science and was so pleased with computer languages. He began writing after obsessing over technology.

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