Uber Technologies (NYSE:UBER) shares rose 2.4% on Wednesday morning following a Bloomberg report that the company plans to eliminate approximately 3,300 positions, representing about 10% of its global workforce, as part of an organizational restructuring.
The changes are intended to reduce management layers and simplify the company's organizational structure, according to the report.
A company spokesperson said the restructuring will reduce the number of managers at Uber by approximately 20%, with some managers moving into individual contributor positions.
In an email obtained by Bloomberg News, Chief Executive Officer Dara Khosrowshahi said Uber's growth had resulted in "more layers, more coordination, more fragmented ownership, and in some cases structures that made sense when businesses were smaller but no longer serve us well at our current scale."
As part of the restructuring, Uber plans to reduce by nearly half the number of teams consisting of only one or two employees.
#plans #approximately
The changes are intended to reduce management layers and simplify the company's organizational structure, according to the report.
A company spokesperson said the restructuring will reduce the number of managers at Uber by approximately 20%, with some managers moving into individual contributor positions.
In an email obtained by Bloomberg News, Chief Executive Officer Dara Khosrowshahi said Uber's growth had resulted in "more layers, more coordination, more fragmented ownership, and in some cases structures that made sense when businesses were smaller but no longer serve us well at our current scale."
As part of the restructuring, Uber plans to reduce by nearly half the number of teams consisting of only one or two employees.
#plans #approximately
9 days ago
