 "Uber hired Dara Khosrowshahi (pictured) as CEO to replace Travis Kalanick and clean up the mess although Lyft seized upon the scandals to gain market share. Photo: Reuters")
Uber Technologies Inc will cut about 3,700 full-time jobs and Chief Executive Officer Dara Khosrowshahi will forgo his base salary for the remainder of the year, the company said on Wednesday, as the COVID-19 pandemic decimates ride-hailing businesses.
Uber and rival Lyft Inc have been under investor pressure to show profits but the coronavirus-led lockdowns have forced them to cut costs and withdraw their full-year financial outlooks as demand for app-based rides have dropped sharply across the world.
Uber said the layoffs, affecting 17% of its employee count, included its customer support and recruiting teams, and expects to incur about $20 million
