Coronavirus: Uber to cut 3,700 jobs as rides plunge

Uber said Wednesday that it will cut 3,700 jobs due to a sharp decline in its ride-hailing business brought on by the coronavirus pandemic.Uber made the job cut announcement in a filing with the U.S. Securities and Exchange Commission. Uber said the positions being eliminated would come from its customer support and recruiting teams, and that it would incur about $20 million in severance and benefits costs related to the layoffs.The company said the move was being made “in response to the economic challenges and uncertainty resulting from the COVID-19 pandemic and its impact on the company’s b…

Read More

HEDGE accordingly