Name: Uber CTO departs as company considers laying off 5,400 staffers
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Uber CTO departs as company considers laying off 5,400 staffers

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Ride-hailing leader Uber, which had already lost money hand over fist even before the shelter-in-place orders sent its business plunging, is considering laying off as much as a fifth of its workforce — about 5,400 people, reported on Tuesday.“As you would expect, the company is looking at every possible scenario to ensure we get to the other side of this crisis in a stronger position than ever,” the San Francisco company said in a statement.Uber has about 27,000 employees worldwide, with roughly a third of them in San Francisco, where it is headquartered. Those figures do not include its ride-hail drivers, whom the company considers independent contractors. The layoffs could save it about $1 billion a year, The Information said. Uber’s website no longer shows any open positions.of consumer spending data from Second Measure, which analyzes billions of anonymized credit card, debit card and bank transactions to track sales at individual merchants, showed that Uber’s core ride business was down 90% compared with a year ago in San Francisco and four neighboring counties (San Mateo, Marin, Alameda and Contra Costa) and down 85% nationwide. Its Uber Eats restaurant delivery division saw sales spike, but it accounts for only about a fifth of Uber’s gross bookings.Uber also said in a Securities and Exchange Commission filing Tuesday that Thuan Pham, chief technology officer and Uber’s longest-serving executive, would resign effective May 16. Pham was among the last remaining executives hired by co-founder Travis Kalanick, who was forced to resign from his role as CEO in 2017.More for you“While the work is never done, I feel comfortable hanging up my hat at a time when the Uber engineering team is at peak productivity, we have built robust system scale and stability, and are well prepared to face the future,” Pham said in a statement included in the “This has been a labor of love for me, and I am so proud of what we have done as a team.”Ratings for the Bay Area and California, updated every 10 minutesUber, once the world’s most valuable startup, went public last May in a highly anticipated offering but its stock quickly It closed Tuesday at $30.12, down a third from its $45 IPO price.Uber had already cut about 1,000 jobs as of October, as it tried to assure Wall Street that it had a path to profitability, t reported.The Information said Lyft, Uber’s biggest rival in the American ride-hailing market, was likely to experience similar cuts, citing unnamed sources. Lyft, also of San Francisco, declined to comment.Carolyn Said is a San Francisco Chronicle staff writer. Email: Twitter:Ratings for the Bay Area and California, updated every 10 minutes

Ride-hailing leader Uber, which had already lost money hand over fist even before the shelter-in-place orders sent its business plunging, is considering laying off as much as a fifth of its workforce — about 5,400 people, reported on Tuesday.“As you would expect, the company is looking at every possible scenario to ensure we get to the other side of this crisis in a stronger position than ever,” the San Francisco company said in a statement.Uber has about 27,000 employees worldwide, with roughly a third of them in San Francisco, where it is headquartered. Those figures do not include its...

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Carolyn Said

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Uber CTO departs as company considers laying off 5,400 staffers

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