Uber cuts 40% of Egypt staff amid global job cutback
Uber cuts 40% of Egypt staff as it slashes its global workforce: Uber has laid off 40% of its Egypt-based desk staff as part of wider cuts announced yesterday, two former employees and one current staff member said, according to Reuters. The company had employed between 650 and 700 people, they said. An Uber spokesman refused to provide details on the layoffs.
Company cuts a fifth of its workforce globally: This came as the ride-hailing giant announced that it would cut 3.7k jobs across the world — 17% of its global workforce — as it struggles amid the covid-19 pandemic.
The ride-hailing industry has been hard-hit by the pandemic, prompting household names — including Lyft last week and, now, Uber — to announce cost cutting measures as lockdowns reduced the volume of taxi bookings, says the Financial Times. Uber’s Dubai-based subsidiary Careem announced earlier this week it’s moving ahead with 536 cuts after seeing business fall by 80%.