Uber announced Wednesday that it will axe 10% of its global corporate workforce in its biggest cuts since the pandemic, as the ride-sharing firm contends with the threat from robotaxis.
The bid to become “simpler and faster” will generate more savings to plough into Uber’s autonomous driving push, CEO Dara Khosrowshahi said.
The company’s shares have fallen 8% this year on perceptions it’s lagging Alphabet’s Waymo in the self-driving race. Waymo announced last month that it’s looking to exit its partnership with Uber, as the two become increasingly direct competitors.
But the Uber selloff has “gone too far,” an Information columnist argued: Its existing network offers a “massive advantage,” allowing it to line up more partnerships with Waymo’s competitors.
