UPDATE 1-Uber cuts 600 jobs in India as lockdown hits business
- Country:
- India
Uber Technologies Inc will cut around 600 jobs in India as part of its plans to lay off 23% of its global workforce, as the company navigates a lockdown that has brought businesses in the country to a grinding halt.
Last week, Uber said it would focus on its core businesses of ride-hailing and food delivery and cut costs in an attempt to become profitable despite the coronavirus pandemic. "The impact of Covid-19 and the unpredictable nature of the recovery has left Uber India with no choice but to reduce the size of its workforce," Uber India and South Asia President Pradeep Parameswaran said.
The company's rival in India, SoftBank Group-backed Ola said last week it would cut about 1,400 jobs as a lockdown brought down revenue by 95% in the last couple of months. Both Ola and Uber's business came to a halt in late March as India enforced a countrywide lockdown to contain the spread of the virus. The government has since lifted some restrictions, but companies across the board face challenges as demand for their services have dropped.
Uber did not say how many workers it employs in India, but a source told Reuters that the company employed around 2,400-2,500 employees before Tuesday's job cuts were announced.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
- READ MORE ON:
- Uber Technologies Inc
- India
- Ola
- South Asia
- SoftBank Group
ALSO READ
US Defense Secretary affirms commitment to bolster US-India partnership in Indo-Pacific to support allies' efforts.
Asian Wrestling Championships 2024: India's Udit wins silver; Abhimanyou, Vicky bag bronze
Border blurs at Zero Point in Jhakuatari on Eid, as locals from India, Bangladesh gather for Namaz
Badminton Asia Championships: PV Sindhu, HS Prannoy ousted, India's campaign ends
"Want every Indian to see that video clip": Jewish woman of Indian-origin recalls losing loved ones to Hamas terrorists on Oct 7