Uber to Reduce Workforce by 14%, Signals Further Cuts
Uber Technologies Inc. will eliminate 3,700 jobs and permanently close 180 driver service centers, the first in a series of cost-cutting measures to be announced in the next two weeks as a response to the coronavirus pandemic.
Uber Eats Drops Service in Seven Countries
Uber Technologies Inc. took steps to stem losses in its international businesses May 4 as the company rushes to adapt to the new realities of the coronavirus pandemic.
Instacart Doubled Workforce in a Month
Instacart Inc. more than doubled the number of people who pick and deliver groceries to customers over the past few weeks and said it will add an additional 250,000 in the next two months, a response to unprecedented demand for the service.
Uber Withdraws Forecast, Will Write Down About $2 Billion
Uber Technologies Inc. withdrew its financial guidance for 2020 and said it will write down about $2 billion in investments after the coronavirus pandemic upended the ride-hailing business.
Lyft Suggests Drivers Work for Amazon After Ridership Plummets
Amazon.com Inc. is teaming up with Lyft Inc. on recruiting the ride-hailing company’s drivers to deliver packages and groceries as the pandemic keeps people indoors.
Lyft to Cut 2% of Staff in Pursuit of a Profit Next Year
Lyft Inc. will eliminate about 90 jobs as the unprofitable ride-booking company seeks to deliver on a promise to stop losing money by the end of next year.
Uber Tests Letting Some California Drivers Set Their Own Fares
The feature is being tested across some airport routes “to preserve flexible work” for California drivers, a spokesman said.
Uber Tweaks App in California to Comply With State Law
Uber Technologies Inc. overhauled its ride-hailing app for California users, tweaking fares and features to respond to a new state law designed to reclassify drivers as employees.
Uber’s Travis Kalanick to Leave Board to Focus on New Business
Uber Technologies Inc.’s former Chief Executive Officer Travis Kalanick is stepping down from the board, severing his last ties to the company he co-founded a decade ago and helped become one of the world’s most valuable, and controversial, startups.
Lyft Forecasts Profit by End of 2021, Sending Shares Surging
Ride-hailing company Lyft Inc. is expected to turn a profit by the end of 2021, a year earlier than analysts had expected, company executives said.