Uber cuts 435 jobs of engineers and product managers

Uber, which has struggled to convince financial markets of its ability to make money since entering Wall Street in May, is cutting 435 jobs in its engineering and product departments, the group said on Tuesday. American.
The car booking platform specialist will separate 170 employees in its engineering team and 265 employees in the product team. In total, these job cuts represent 8% of the workforce in these two departments.

“Our goal with these changes is to redefine and improve our everyday way of working. Our top priority and responsibility is to set the bar in performance and flexibility, “said a spokesperson for Uber.

“Although it is painful in the immediate future, especially for those who are directly affected, we believe that this will strengthen our organization, which will continue to hire the best talent from around the world,” he added. the spokesperson.

Uber says it employs more than 27,000 people worldwide.

In July, the California giant had cut 400 jobs in its marketing department, a third of staff in this department, to reduce costs.

Since entering Wall Street in the spring, Uber, who spends a lot, but is still not profitable, multiplies the disappointments on the financial markets.

In early August, the group reported record losses of more than $ 5 billion in the second quarter of 2019 and slowed growth.

Its title has lost more than 25% since its first valuation on the New York quotation in May.

However, it climbed nearly 4% on Tuesday at the close.

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