uber Uber Cuts 14% of Staff Amid COVID-19 Ridesharing Collapse Uber lays off 3,700 employees and closes dozens of driver support hubs as the pandemic causes ride volumes to plummet. CEO Dara Khosrowshahi also waives his base salary for the remainder of the year.
lyft Lyft Cuts Nearly 1,000 Jobs and Furloughs Hundreds Amid Pandemic Lyft reduces its workforce by 17 percent, laying off 982 employees and furloughing 288 more as the COVID-19 pandemic devastates the ride-hailing industry. The company also implements widespread salary cuts for executives and staff to manage the financial fallout.
uber Uber Withdraws 2020 Financial Guidance Amid COVID-19 Uncertainty Uber officially withdraws its 2020 financial guidance due to the unpredictable impact of the COVID-19 pandemic. The company also warns of a significant impairment charge related to its minority equity investments.
uber Uber and Ola Halt Delhi Rides as India Enforces Pandemic Lockdown Ride-hailing giants Uber and Ola suspend all services in New Delhi and restrict operations across India to comply with government lockdown orders aimed at slowing the coronavirus spread.
uber Uber Stock Surges 38% as CEO Claims Worst of Pandemic Impact Has Passed Uber shares skyrocket after CEO Dara Khosrowshahi assures investors the company has enough cash to survive the crisis and points to growing food delivery demand.
uber Uber Narrows Quarterly Loss and Moves Profitability Goal to Late 2020 Uber reports a smaller-than-expected fourth-quarter loss and accelerates its EBITDA profitability target to the fourth quarter of 2020. The company also shows strong growth in its food delivery segment while continuing to expand its core ride-hailing business.
uber Uber Locks 240 Mexican Accounts Over Coronavirus Fears Uber takes proactive measures against the novel coronavirus outbreak by suspending hundreds of user accounts in Mexico to curb potential transmission.
uber Uber Pays $4.4 Million to Settle EEOC Sexual Harassment Probe Uber agrees to a $4.4 million settlement with the EEOC over claims of sexual harassment and retaliation. The ride-hailing company also implements new systems to track repeat offenders and monitor management responses.
uber Uber Nears $400 Million Deal to Sell Indian Food Delivery to Zomato Uber is in advanced talks to sell its struggling Uber Eats business in India to local competitor Zomato for roughly $400 million. The proposed deal includes an additional Uber investment that gives the ride-hailing giant a sizable stake in Zomato.
uber Uber Reports Nearly 6,000 Sexual Assault Incidents Over Two-Year Period A new safety report from Uber reveals nearly 6,000 claims of sexual assault in the United States between 2017 and 2018. The company releases this data as part of an effort to increase transparency around rider and driver safety.
uber London Denies Uber License Renewal Over 14,000 Fraudulent Trips London's transportation regulator refuses to renew Uber's operating license after discovering unauthorized drivers took thousands of trips using fake accounts. Uber plans to appeal the decision and continues to operate during the process.
uber London Regulator Denies Uber License Renewal Over Safety Failures London's transport authority refuses to renew Uber's operating license due to severe safety breaches, including allowing uninsured and unauthorized drivers to use the app. The ride-hailing company has 21 days to appeal the decision while continuing operations.
uber London Regulators Strip Uber of Operating License Over Safety Failures Transport for London revokes Uber's license due to a pattern of safety failures, though the ride-hailing firm plans to appeal and continue operating normally.
lyft Lyft Pulls Scooters From Six Cities Amid Push for Better Unit Economics Lyft is removing its scooters from six U.S. markets and laying off 20 employees to focus on densely populated cities where ridership is higher.
uber Uber Posts $1 Billion Quarterly Loss Despite Revenue Gains Uber reports $3.8 billion in revenue but loses over $1 billion in the third quarter as its Eats and freight divisions bleed cash.