Uber Slashes 200 Jobs In Recruitment Division

Uber Technologies Inc UBER announced trimming 200 jobs in the recruitment division to streamline costs.

The layoff will impact below 1% of Uber's global workforce, as per Reuters.

With the layoff, the company plans to maintain the staff count flat throughout the year.

Earlier this year, Uber's Freight fired 150 employees, about 3% of the segment's total headcount.

Last week, Uber reportedly planned to shut its food delivery business in Italy and exit Israel to focus on a market with sustainable growth opportunities.

Last month, Uber reported first-quarter FY23 revenue growth of 29% year-on-year to $8.82 billion, beating the consensus of $8.72 billion and EPS loss of $(0.08), beating the consensus loss of $(0.09). 

Also Read: Uber's Untapped Market And Expansion Opportunities: Bullish Analyst Highlights

Price Action: UBER shares are trading higher by 1.69% at $43.38 on the last check Thursday.