Uber Technologies to lay off 200 employees in its recruitment division

Uber Technologies stated that it would be cutting off 200 jobs in its recruitment team, according to a report by Reuters and the Wall Street Journal (WSJ).

Uber reportedly has a global workforce of 32,700 worldwide and this reduction would affect less than one per cent of its employees. However, within the recruitment division, this would be about 35 per cent of the employees, according to WSJ's estimate.

During the pandemic, Uber had cut down 17 per cent of its workforce due to the global lockdowns and has implemented smaller cuts compared to its competitors, namely Lyft.

As Business Standard had reported in February, Uber Technologies was focusing on "delivering profits this year." The rideshare market has returned to normal with Uber's revenue rising by 49 per cent to $8.61 billion at the end of 2022, beating the average analyst estimate of $8.49 billion.

Moreover, Uber, unlike its rivals, had benefited through its food delivery services during the pandemic.

While Lyft laid off 700 workers last year and 26 per cent of its total workforce in April, Uber in May stated that it was on track to meet its operating income profitability this year.