Uber announces layoffs of 200 employees in new round of layoffs

At the beginning of the covid-19 pandemic, in 2020, Uber reduced its staff by 17%. While its cuts were significant, they were minor compared to Lyft, its main US competitor.

Lyft has carried out several mass layoffs, the latest of which was responsible for laying off 1,200 employees, representing 26% of its total workforce.

Last Wednesday, the 21st, Uber announced that it will lay off 200 employees from its recruitment division. This action is part of a company plan to maintain a stable number of employees while seeks to reduce costs, which has been done by many companies that try to rebuild after the pandemic.

This decision reflects Uber's efforts to adapt to market changes and ensure its financial sustainability amid the challenges faced during the pandemic.

Uber predict changes to ensure financial stability

Recently, as part of its plans to reduce costs and increase profitability, Uber announced that it will be implementing video ads across all of its apps. This initiative aims to generate additional advertising revenue for the company.

Mark Grether, vice president and general manager of Uber's advertising division, revealed that the company is aiming to raise $1 billion in advertising revenue by 2024. This has been the alternative for many other companies, as advertising can generate significant profits.

With the introduction of video ads, Uber is looking to leverage its user base and global reach to attract advertisers. This monetization strategy is a way to diversify the company's sources of revenue and boost its long-term financial growth.

Of course, it's important to point out that the introduction of video ads can also impact the user experience, and the Uber will have the challenge of finding a balance between showing ads and satisfying users on its platforms.

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