Uber orders engineer to freeze hiring as losses increase: Exclusive
Uber does not allow technicians to join the tour, at least for the time being.
The Ritt giant has canceled scheduled on-site technical role interviews this week, and job seekers have been told that jobs are being put on hold due to a hiring freeze in engineering teams in the US and Canada, according to several people who received the communication. Uber did not respond to repeated requests for comment.
In emails sent to job interviews, Uber recruiters explained "there have been some changes" and the opportunity has been "put on hold for now," according to emails reported by Yahoo Finance.
The hiring freeze comes after 400 layoffs in its marketing department last week, which caused concern and fear throughout the company. During a recent meeting with all hands, a question was also raised about potential layoffs in the engineering department, but managers did not provide timelines. The number of software engineering roles at Uber peaked in March, according to data tracking company Thinknum.
Uber has been struggling since its May listing. (Photo by Sean Gallup / Getty Images)
<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text "content =" The move highlights the challenges Uber faces as it shrinks to prove to Wall Street, since its May listing, that it is on track to achieve profitability, with 100 million active users per month, & nbsp; reported $ 5.23 billion in losses & nbsp; for the second quarter on Thursday, attributing the huge loss to a stock-based compensation charge of $ 3.9 billion due to restricted stock units that earned during the IPO. %. Uber shares fell 6.4% on Friday, below the $ 45 stock price. "Data-reactid =" 30 "> The move highlights the challenges Uber faces when itching to prove to Wall Street since the IPO May, that it is on the right track to achieve profitability. The company, with 100 million monthly active users, reported $ 5.23 billion in losses for the second quarter on Thursday. It attributed the huge loss to a $ 3.9 billion stock-based compensation fee due to limited stock units that had their own stock exchange listing. Meanwhile, sales growth fell by 14%. Uber shares fell 6.4% on Friday, below the stock price of $ 45 per share.
In an earnings interview with analysts, CEO Dara Khosrowshahi reiterated her confidence in the business with its global footprint and network impact. "I think myself and my team are well prepared, but I think we are very, very early on this incredible journey," Khosrowshahi said on Thursday.
<p class = "canvas-atom canvas-text Mb (1.0 em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Do you have any thoughts on share about Uber? Email Krystal Hu at krystalh@yahoofinance.com or follow her on Twitter . "data-reactid =" 32 "> Do you have any thoughts to share about Uber? Email Krystal Hu at krystalh@yahoofinance.com or follow her on Twitter .
<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Read more: "data-reactid =" 33 "> Read more:
