Uber laid off 435 employees in engineering and product as its stock price foundered and losses deepened.
Uber instituted a hiring freeze of technical employees in the U.S. and Canada last month. A spokesman now says the freeze is over following the staff cuts. The news was“In the past, we grew our teams rapidly and in a decentralized way,” Dara Khosrowshahi, Uber’s chief executive, wrote Tuesday in an email to staff.
“This made sense as we worked to scale the business globally and find product-market fit.... But at a certain point, bigger teams do not mean better results.”“We are not doing this for Wall Street,” Khosrowshahi wrote. “We are doing this for Uber. It’s critical we get our edge back and continually push ourselves to do better.”
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