Uber Slashes 200 Jobs In Recruitment Division
Portfolio Pulse from Lekha Gupta
Uber Technologies Inc (NYSE:UBER) is cutting 200 jobs in its recruitment division to streamline costs, impacting less than 1% of its global workforce. This follows the layoff of 150 employees in Uber's Freight earlier this year. The company reported Q1 FY23 revenue growth of 29% YoY to $8.82 billion.
June 22, 2023 | 4:35 pm
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Uber is cutting 200 jobs in its recruitment division to streamline costs, impacting less than 1% of its global workforce. The company reported Q1 FY23 revenue growth of 29% YoY to $8.82 billion.
The job cuts in the recruitment division are part of Uber's cost-cutting measures and will impact less than 1% of its global workforce. While this may have a slight negative sentiment, the company's Q1 FY23 revenue growth of 29% YoY to $8.82 billion is a positive sign. The overall impact on the stock price is expected to be neutral in the short term.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100