Home » World News » Uber lays off 3,700 workers in coronavirus, CEO waives salary
Uber lays off 3,700 workers in coronavirus, CEO waives salary
Uber will come out of coronavirus stronger: Venture capitalist
Mitchell Green of Lead Edge Capital discusses his outlook for Uber and Spotify.
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Uber is letting go of 3,700 full-time employees, 14 percent of its staff, and CEO Dara Khosrowshahi is waiving his salary for the rest of the year, the rideshare and delivery company disclosed Wednesday.
Khosrowshahi's salary was $1 million in 2019.
Uber and competitor Lyft's rideshare businesses have taken a significant hit due to COVID-19 as people abide by local stay-at-home policies and avoid public transit and rideshare apps.
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"With people taking fewer trips, the unfortunate reality is that there isn’t enough work for many of our front-line customer support employees," an Uber spokesperson told FOX Business.