Business

Uber CEO says no job cuts despite competitor moves

by Julia Shapero - 12/02/22 3:34 PM ET

FILE – The logo for Uber appears above a trading post on the floor of the New York Stock Exchange, Friday, Aug. 9, 2019. Shares of Uber are surging before the market open Tuesday, Nov. 1, 2022, after the ride-hailing company gave a fourth-quarter forecast indicating that consumers are growing increasingly more comfortable using the service now that pandemic fears have mostly eased. Uber Technologies Inc. announced that it foresees fourth-quarter gross bookings rising 23% to 27% year over year on a constant-currency basis, totaling $30 billion to $31 billion. (AP Photo/Richard Drew)

Uber CEO Dara Khosrowshahi said on Thursday that he does not anticipate job cuts at the ride-hailing and food delivery company, even as his competitors have announced layoffs in recent weeks.

“No, we’re in a good place,” Khosrowshahi told Bloomberg News in response to a question about potential cuts.

Fellow ride-hailing service Lyft announced in early November that it was cutting 13 percent of its workforce amid recession fears, while food delivery service DoorDash said on Wednesday that it would cut more than 1,000 positions due to slowing growth and rising expenses.

Silicon Valley saw a slew of layoffs last month, with large companies like Meta, Amazon, Twitter and Alphabet all announcing or reportedly considering mass cuts.

While Uber appears to have avoided layoffs thus far, the company previously was forced to cut thousands of jobs during the height of the pandemic in 2020 as demand for ride-hailing services crashed.