Uber on Wednesday announced plans to slash 10% of its workforce in a move to consolidate management layers and trim costs.
“The changes we’re making today are designed to do two things: make Uber simpler and faster, and create more capacity to invest in our future,” CEO Dara Khosrowshahi wrote in an email to employees. That includes its previous plans to commit more than $10 billion to autonomous vehicles in the coming years.
The ride-hailing company’s shares rose nearly 2%.
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