Uber lays off hundreds more workers as it struggles to make money

SACRAMENTO - Uber laid off 435 workers in its product and engineering teams on Tuesday , the company's second round of cuts in recent months as it struggles to make money.

"In the past, we grew our teams rapidly and in a decentralized way. This made sense as we worked to scale the business globally and find product-market fit," Khosrowshahi wrote in the email, which echoed what he said in July with the previous layoffs."But at a certain point, bigger teams do not mean better results. It's critical we get our edge back and continually push ourselves to do better.

In response, Khosrowshahi has shaken up Uber's top ranks and tried to cut costs. After cutting jobs in the marketing team in July, he instituted a month-long hiring freeze and instructed executives to re-evaluate the size of their teams. In addition, he pushed out top executives, including his chief operating officer and chief marketing officer. Uber's board has also undergone some turnover.

In his email, Khosrowshahi said he was not making job cuts to appease investors."We are not doing this for Wall Street. We are doing this for Uber," he wrote.

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