Uber- Tightening its Belt for Market
Amid rough sledding for tech stocks in general, Uber in particular is tightening its belt.
The ride-share big dog informed employees on Sunday that cuts are coming to marketing and driver incentives.
Uber- Huge Cut for Employees & Drivers
Uber- Hiring will be Slow
Uber has also indicated that hiring would slow — or from now on would be considered a “privilege.”
Uber’s chief executive, Dara Khosrowshahi, “it’s clear that the market is experiencing a seismic shift & we need to react accordingly.”
Uber- Chief Executive Words
Uber- Tech Investors Sell Offs
That’s apparently an acknowledgement that tech investors are no longer interested almost exclusively in growth.
Uber, like other tech companies, has been pitching itself to Wall Street as a company on the go & has used various growth metrics.
Uber- High-Tech Companies
Uber- Cut Offs reflect growing Awareness
Uber’s latest cutbacks appear to reflect a growing awareness that it needs to shore up its finances compelling case to investors.
We will treat hiring as a privilege and be deliberate about when and where we add headcount,” Khosrowshahi said.
Uber- Hiring Privilege
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