Following Lyft, Uber Is Now Laying Off 14% of Its Employees

About a week after Lyft (NASDAQ: LYFT) said it would lay off 17% of its employees, larger rival Uber (NYSE: UBER) is now following suit in announcing its own layoffs, as the COVID-19 pandemic has eradicated demand within the core ridesharing business. In a regulatory filing this week, the ride-hailing leader disclosed that it is letting go of approximately 3,700 full-time employees within its customer support and recruiting departments.

That's around 14% of the 26,900 employees (which are distinct from contract drivers) that Uber had at the end of 2019, according to the company's annual report.

Image source: Uber.

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Source Fool.com