DAVOS, Switzerland ― Uber Chief Executive Dara Khosrowshahi said in Davos that he was not currently planning any company-wide layoffs.
The rideshare and delivery company has worked to cut costs for months, early enough relative to others that a memo the CEO wrote on this tougher stance “landed a bit like a lead balloon initially,” Khosrowshahi said according to Reuters at a Wall Street Journal event on the sidelines of the World Economic Forum’s annual meeting.
“No, we’re in a good place,” Khosrowshahi told Bloomberg News after speaking at the Economic Club of Chicago, responding to a question about whether the ride-hailing giant would reduce headcount.
His comments stood out among tech peers that had cut staff by the thousands. Uber’s rival Lyft said last month it would reduce headcount by 13% and hive off its first-party vehicle business. Food-delivery giant DoorDash announced it would cut 1,250 jobs to rein in expenses.
In November, Uber reported third-quarter revenue jumped 72% to $8.34 billion, which assuaged investors’ concern that rising inflation would deter customers from hailing a ride or ordering takeout.
“We’re seeing zero signs of weakness,” Khosrowshahi said at the event. He added that Uber had been the beneficiary of a shift in consumer spending from retail to services.
Discussion about this post