Africa Business

Uber’s plan to layoff 14% of workforce comes into effect

Uber had announced plans to cut 3,700 full-time staff representing about 14% of its workforce as the global ride hailing company is hit by the coronavirus pandemic.

Before the pandemic, Uber was struggling to balance its books, making a loss of $8.5bn in 2019.

According to media reports, Uber technologies, Egypt laid off hundreds of office-based staff on Wednesday.

An Uber spokesman declined to share details of the layoffs but told Reuters a total of 46 countries had been affected by the changes.

Chief executive Dara Khosrowshahi will also waive his base salary – set at $1m in 2019 – through to the year end.

Read Also: Earth’s Ozone Layer Is Healing – Study

Uber operates in 15 major African cities with some 60,000 drivers in Egypt, Ghana, Kenya, Morocco, Nigeria, South Africa, Tanzania and Uganda. Its biggest markets in Africa are South Africa, Nigeria, Kenya and Egypt.

Related posts

We Have Updated Our Special Report On Military Massacre & Related Atrocities In Eastern Nigeria

Chukwudi Adeshina

Major breakthrough recorded in HIV treatment

Chukwudi Adeshina

American rapper Ludacris becomes Gabonese citizen

Chukwudi Adeshina

Leave a Reply