(Reuters) – Uber Technologies Inc’s (UBER.N) ride service bookings slowly recovered in recent weeks as the company expects a coronavirus-related slowdown will delay the goal of becoming profitable by a matter of quarters, not years, Chief Executive Dara Khosrowshahi said on Thursday.
FILE PHOTO: An Uber Eats food delivery courier closes a bag with an order during a lockdown, imposed to prevent the spread of coronavirus disease (COVID-19), in central Kiev, Ukraine April 2, 2020. REUTERS/Valentyn Ogirenko
He spoke after Uber reported it had seen encouraging signs in markets hit by the pandemic and posted a 14% rise in revenue for the first quarter, supported by a jump in food-delivery orders at its Uber Eats business.
Khosrowshahi said stringent cost cutting, to the tune of more than $1 billion in 2020, would ensure the company stayed on track. Uber on Wednesday said it would lay off 3,700 full-time employees, or roughly 17% of its head count.
The company, which makes the bulk of…
Source Reuters Tech News
Source link
