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Uber Freight cuts 150 jobs, about 3% of the unit’s headcount – EAST AUTO NEWS

Uber Freight cuts 150 jobs, about 3% of the unit’s headcount


Uber Freight has laid off 150 staff, or about 3% of the section’s whole headcount.

The layoffs impression the division’s Digital Brokerage group, Uber Freight CEO Lior Ron mentioned in a Monday message considered by CNBC. They’re the primary layoffs since 2020, within the early weeks of Covid lockdowns.

Uber launched its freight unit in 2017 with a perception that trucking firms and laden items may very well be matched utilizing the identical idea that underpinned the corporate’s ride-hailing expertise. The unit booked $1.8 billion in income for the third quarter of 2022, up 336% 12 months over 12 months.

“As you realize, the logistics market is at present going through quite a lot of headwinds which has impacted our buyer base in addition to the general business,” Ron advised staff. “We accelerated hiring final 12 months inside sure areas of our Brokerage enterprise, planning for a special financial actuality, however the volumes didn’t materialize as anticipated.”

Uber CEO Dara Khosrowshahi mentioned final week on the World Financial Discussion board in Davos that he is not planning companywide layoffs.

The cuts comply with far deeper tech layoffs at Alphabet, Meta, Amazon, Microsoft, and Twitter. In Nov. 2022, supply service DoorDash laid off 1,250 employees, or 6% of its headcount, weeks after ride-sharing platform Lyft lower 13% of its headcount.

Laid-off staff “might be prolonged departure packages and help that features severance, prolonged healthcare and 2022 bonus cost, outplacement and profession help, and if relevant, immigration companies,” Ron mentioned.

Uber releases its 2022 full-year earnings on Feb. 8.

Uber Freight cuts 150 jobs, about 3% of the unit’s headcount – EAST AUTO NEWS
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