Uber CEO says laying off 3,300 workers will help lower prices for customers
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Winners & losers: Nobody likes seeing companies laying off people, except maybe their shareholders, but CEO Dara Khosrowshahi says the roughly 3,300 people Uber let go of last week will be a good thing for customers: it will use the savings to reduce prices, apparently.
Uber said last week that it was laying off 10% of its corporate staff, or around 3,300 positions, as the ride-hailing giant looks to reduce management layers. The move marks its biggest cuts since Covid.
At the Goldman Sachs Communacopia + Technology Conference yesterday, Khosrowshahi talked about taking the savings stemming from the layoffs and reinvesting them in the business, which includes lowering prices for customers.
The CEO added that the money saved from insurance will also be used to lower ride prices, something that he believes will...
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