Uber lays off 14 percent of its workforce in COVID-19-related cost-cutting

Uber will lay off 3,700 full-time employees, or around 14 percent of its global workforce, the company said in filings with the US Securities and Exchange Commission. In addition, Uber CEO Dara Khosrowshahi will forgo his salary for the rest of the year as the company continues to struggle in response to the COVID-19 pandemic.

The layoffs are expected to hit the company’s customer support and recruiting divisions. Uber says it will incur approximately $20 million in severance and other termination-related expenses. Last week, The Information reported that Uber’s top executives were considering laying off as many as 20 percent of the company’s workforce.

Uber’s ride-hailing business has dried up as a result of widespread shutdown orders...

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