Uber Undergoes Restructuring Covering Ten Percent of Its Global Workforce
Aiming to reduce management layers, the company announced it will part ways with thousands of employees globally.
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Deciding to reorganize its management structure, Uber Technologies announced it will lay off 3,300 employees, accounting for approximately 10 percent of its global workforce.
Reduction in Management Ranks
In an informational email sent to employees by company CEO Dara Khosrowshahi, it was announced that the number of managers within the company will be reduced by 20 percent alongside this comprehensive restructuring process.
Employee Count and Market Reaction
According to annual report data, shares of the ride-sharing giant, which had approximately 34,000 employees worldwide as of the end of last year, experienced a 2 percent increase in value following this development.