Uber to cut 3,700 jobs, CEO Khosrowshahi to waive base salary

Uber Technologies Inc will cut about 3,700 full-time jobs and Chief Executive Officer Dara Khosrowshahi will forgo his base salary for the remainder of the year, the company said on Wednesday, as the COVID-19 pandemic decimates its ride-hailing business.

The company said https://bit.ly/2L6yJKs the layoffs included its customer support and recruiting teams, and expects to incur about $20 million in costs for severance and related charges.

Uber and rival Lyft have already withdrawn their full-year financial outlooks as demand for app-based rides dropped sharply across the world after governments imposed stay-at-home orders to curb the transmission of the coronavirus.