Uber Lays Off 400
nytimes.com
Uber Lays Off 400
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Re: Uber Lays Off 400
#2Re: Uber Lays Off 400
#3When I was at Edmunds (working on a fairly profitable ad tech product), Uber was actively poaching from our team; a few ex-coworkers (albeit mostly engineers) moved up to SF and hopefully they didn't get axed. We can chalk this up to "business as usual," but let's not forget people's livelihoods are at stake.
Re: Uber Lays Off 400
#4Profitability doubts after the IPO? Everyone in the world knew they were never close to profitability pre-IPO, this is just the reality of being a publicly traded not profitable company. Can't funding round yourself out of this one anymore.
Re: Uber Lays Off 400
#5400 people at say 40k salaries or around 80k with benefits is around 32 million. Definitely a significant chunk of change, but barely scratching the surface for offsetting 1B in losses.
Re: Uber Lays Off 400
#6From a non-paywalled source (1):
1) These cuts appear to be exclusively in the marketing department taking department from 1,200 to 800 - that is a BIG ASS cut of 33% [EDIT from 25%].
2) Seems like this was a warning shot by CEO Khosrowshahi who comments "[M] any of our teams are too big, which creates overlapping work, makes for unclear decision owners, and can lead to mediocre results." - I'd be doing my best work @ UBER right now or warming up the resume.
3) Uber has >25,000 FTE worldwide as of article writing.
https://www.latimes.com/business/technology/story/2019-07-29...
Re: Uber Lays Off 400
#7400 people at say 40k salaries or around 80k with benefits is around 32 million. Definitely a significant chunk of change, but barely scratching the surface for offsetting 1B in losses.
Re: Uber Lays Off 400
#8400 people at say 40k salaries or around 80k with benefits is around 32 million. Definitely a significant chunk of change, but barely scratching the surface for offsetting 1B in losses.
You think Uber employees are only making $40k???
Re: Uber Lays Off 400
#9From a non-paywalled source (1): 1) These cuts appear to be exclusively in the marketing department taking department from 1,200 to 800 - that is a BIG ASS cut of 33% [EDIT from 25%]. 2) Seems like this was a warning shot by CEO Khosrowshahi who comments "[M] any of our teams are too big, which creates overlapping work, makes for unclear decision owners, and can lead to mediocre results." - I'd be doing my best work…
That's 33% actually. And while that's a huge cut, that's also an absurdly large marketing team. There's a reason most big companies hire agencies to do marketing. It's not their core business and you can roll over staff willy-nilly without affecting your head count.
Re: Uber Lays Off 400
#10Hot take: This seems like it's directly related to the IPO itself. I'm imagining this cause and effect:
Need more users pre IPO to juice the growth story -> Hire more marketers -> Cut costs post IPO
I'm not arguing it's effective, but it's certainly a reasonable outgrowth of the various goals they've had over the last year or two.