Multinational transportation network company, Uber has announced a new round of job cuts in a quest to save costs following heavy losses.
According to the CEO of Uber, the labour cut at Uber will cause an 8% decrease in its workforce.
The news followed the loss of 400 marketing jobs at the end of July when CEO of Uber, Dara Khosrowshahi declared that big teams can deliver “mediocre results”.
In an email to staff, the CEO said of the latest job cuts: “In the past, we grew our teams rapidly and in a decentralized way.
“This made sense as we worked to scale the business globally and find product-market fit… But at a certain point, bigger teams do not mean better results.”
Meanwhile, in May 2019, Uber was disappointed as its IPO saw shares fall more than 7% from its listing price.
Uber priced its shares at $45 (£35). The deal valuedUber at $82bn (£63bn).
However, in Ghana, The Driver and Vehicle Licensing Authority (DVLA) has hinted on piloting a new regulatory regime for ride-sharing commercial activities such as Uber.
The new regulations will provide distinct DVLA identification for the digital transport operators, faster registration and twice a year renewal of road worthiness of the Vehicles. However, Uber drivers have strongly criticized the decision.