Uber cuts 10% of jobs today, stock up: Why these layoffs are different from others
Uber announced on Wednesday it is cutting 10% of its workforce. That’s 3,300 employees, the ride-hailing service told Fast Company. Uber reported a total of 34,000 employees in its 2025 annual filing.
In an email to employees, CEO Dara Khosrowshahi said the organizational changes across the company are aimed at “removing layers, simplifying team structures, refining our global location strategy, and focusing our people and investments against the biggest opportunities ahead of us.”
He said a leaner organization will mean “clearer ownership, faster decisions, and more time spent building rather than coordinating” and will generate savings that Uber plans to reinvest in future growth and innovation.
Uber joins a growing number of technology companies to announce layoffs, including Apple, TikTok, LinkedIn, Netflix, often downsizing their organizational structure. Uber emphasized it was cutting down on bloated management layers, but unlike many other companies with recent layoffs, it did not attribute the cuts to artificial intelligence. (According to Khosrowshahi, it cut 20% of its employees sitting at seven layers of management under the CEO.)
In order to streamline the organization, Uber is concentrating teams in its largest global hubs, NY and SF, and prioritizing co-location between managers and their teams, particularly for earlier-career employees. Going forward, the company is asking the vast majority of remote employees to move to an office—so less than 1% of employees will be remote.
“Everyone whose role has been affected has already been notified, except in countries where we will follow the required local process,” Khosrowshahi added.
Shares of the ride-hailing giant, Uber Technologies, Inc. (UBER) were up almost 2% at the time of this writing on Wednesday afternoon.
Uber reported mixed second-quarter 2026 earnings results for the period ended June 30, 2026. Earnings per share (EPS) came in at 81 cents as expected, but quarterly revenue of $14.19 billion came in lower than analyst expectations of $14.24 billion. However, that revenue increase was up 12% from a year earlier.
Uber stock is down 19% over the past 12 months, and was currently trading at $76 at the time of this writing.