Uber cuts 3,300 jobs, CEO promises lower fares and leaner structure

Ride-hailing giant Uber has laid off approximately 3,300 employees, representing nearly 10% of its global workforce. CEO Dara Khosrowshahi announced the move at the Goldman Sachs conference, stating that cost savings from the layoffs and declining insurance expenses would be passed on to customers through lower fares. The restructuring is also aimed at improving ride selection and fueling business growth. As part of the reorganisation, Uber is eliminating management layers and cutting almost all remote positions. The changes come as Uber faces intensifying competition in the US from autonomous vehicle services such as Waymo robotaxis.