Continuous Loss breaks Uber's back, the company fires 435 employees

Sep 12 2019 12:22 PM
Continuous Loss breaks Uber's back, the company fires 435 employees

Washington: US-headquartered taxi aggregator company Uber is not doing well. In the US, the company's losses are increasing, due to which it has fired 435 employees of its product and engineering team. The company has laid off employees for the second time in the US in two months. Earlier in July, the company had fired 400 workers from its marketing team.

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It is noteworthy that Uber business is not doing well in India. However, Finance Minister Nirmala Sitharaman had said in a statement that cars are not being sold in the country due to aggregator taxi services like Ola, Uber. Nirmala Sitharaman has said that the auto sector is the most affected by the automobile industry BS6 standard and the mindset of Millennials.

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About 8 percent of its employees have been laid off from its US offices in this layoff. 170 people of the product team and 265 employees of the engineering team have been fired. The company has confirmed this retrenchment in a statement. An Uber spokesperson has said, "We hope that the situation will improve further, we are working on our priority and hold ourselves accountable on the basis of better performance."

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