Uber will lay off 3,700 employees, the company announced in a filing with the Securities and Exchange Commission Wednesday. The cuts to its customer support and recruiting teams represent about 14% of its 26,900 employees, based on Uber’s most recent headcount.
CEO Dara Khosrowshahi will also forgo his base salary for the rest of the year, according to the filing. In 2019, Khosrowshahi made $1 million in base salary but gained the vast majority of his compensation from bonuses and stock awards.
Uber’s stock was down about 2% during premarket trading.
Breaking: California sues Uber and Lyft, alleging the companies have illegally treated their drivers as independent contractors https://t.co/1bsAJOAg3j
— Los Angeles Times (@latimes) May 5, 2020
Breaking: California sues Uber and Lyft for misclassifying workers, the first enforcement action under AB 5. The state is seeking civil damages and back wages for drivers. https://t.co/gASiVP2h4s
— kate conger (@kateconger) May 5, 2020