Uber cuts 600 jobs in India as lockdown hits business

BENGALURU: Uber Technologies Inc has cut about 600 jobs in India as part of plans to reduce its global workforce by 23per cent, the company said on Tuesday, joining local rival Ola as the COVID-19 pandemic crushes demand for app-based cab services.

Last week, Uber said it would focus on its core businesses in ride-hailing and food delivery and cut staffing globally in an attempt to become profitable despite the coronavirus pandemic."The impact of Covid-19 and the unpredictable nature of the recovery has left Uber India SA with no choice but to reduce the size of its workforce," Uber India and South Asia President Pradeep Parameswaran said.

Laid off employees will receive a minimum of 10 weeks worth of payout, medical insurance coverage for the next six months and other help, Parameswaran added. The ride-hailing taxi business in India came to a halt in late March as the government enforced a countrywide lockdown to contain the spread of the virus. The lockdown has since been eased, but companies across sectors face challenges as demand for their services has dropped.

Uber's main rival in India - SoftBank Group-backed Ola - said last week it would cut about 1,400 jobs as the lockdown brought down revenue by 95per cent in the last couple of months.Uber did not say how many workers it employs in India, but a source told Reuters the company employed around 2,400-2,500 employees before Tuesday's job cuts were announced.

Singapore Latest News, Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Uber India cuts 600 jobs amid coronavirus outbreakRide hailing company Uber Technologies Inc's Indian arm will cut 600 jobs across functions, as it navigates a strict coronavirus lockdown that has ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Uber-rival Bolt raises 100 million eurosRide-hailing service Bolt said on Tuesday it has raised 100 million euros (US$109 million) from London-based investment firm Naya Capital ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Uber India cuts 600 jobs amid coronavirus outbreakRide hailing company Uber Technologies Inc's Indian arm will cut 600 jobs across functions, as it navigates a strict coronavirus lockdown that has ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Oil prices rise on supply cut hopes, easing of COVID-19 lockdownsMELBOURNE: Oil prices climbed on Tuesday (May 26), boosted by increasing faith in the market that producers will to stick to commitments to cut ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

French carmaker Renault could close plants and cut jobs: unionFrench carmaker Renault could unveil job cuts and plants closures on Thursday as the company looks to save 2 billion euros (US$2.2 billion) in ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Protests in Ecuador against job and wage cutsQUITO: Demonstrators defied coronavirus restrictions to march in cities across Ecuador on Monday (May 25) in protest against President Lenin ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »