Uber CEO tells employees that he’s cutting costs like ‘anniversary balloons’ as nervous engineers worry about layoffs (UBER)

August 13, 2019

Dara Khosrowshahi

Uber CEO Dara Khosrowshahi held an all-hands meeting on Tuesday and the big topic under discussion was cost-cutting.
For instance, Uber is getting rid of work anniversary balloons, which he said he expects will save the company about $250,000.
But cost-cutting will not be so extreme that directors will be forbidden from traveling business class, sources say.
Employees are nervous that Uber may be ramping up toward some sort of layoff that impacts its all-important engineering groups.

Uber CEO Dara Khosrowshahi held an all-hands meeting on Tuesday and the big topic under discussion was cost-cutting.

Employees are nervous that Uber may be planning some sort of layoff that impacts its all-important engineering groups. These nerves have been on the rise since Uber laid off 400 employees from its global-marketing team a few weeks ago in what employees described as a “bloodbath” to Business Insider. The layoffs were part of Uber’s efforts to streamline its operations and reduce spending, The New York Times reported.

The company also initiated a hiring freeze in certain engineering organizations, too, but it has not commented on layoffs to employees or publicly.

The company has told employees that it will be focused on addressing inefficiencies in the organization and that it is getting more serious about performance management, Uber says.

To some inside the company, those words sound like the prelude to layoffs perhaps with contractors at the greatest risk.

As for cost-cutting, Khosrowshahi told employees on Tuesday that he was looking at ways to trim expenses.

For example, he said he is eliminating Uber’s tradition of “anniversary balloons” and expects to save about $250,000 in the process.

Uber has about 25,000 employees globally, it says, and on their work anniversary, it traditionally sent them a bunch of balloons, including a big, numbered balloon that represented the number of …read more

Source:: Business Insider

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