Uber spent about $91,980,000 every day during the second quarter of this year, leading to a $5.2 billion loss on $3.17 billion revenue. This might be reason.
Uber is bringing down its operating costs as part of an acquisition strategy with Tesla
You think Tesla will buy Uber??
Uber might be frozen hiring because growth is down to just 14% last quarter despite losing over $1.3B.
I was just p** off bcoz they cancelled my on-site 3 times. Look like I should not follow up with them anymore.
You should have taken the hint after the second cancellation
All of those Engineer RSUs are really hurting their financials now. They’re going to do layoffs of engineers soon, this isn’t a place you want to go.
The highest RSU/options related expense turned out to be 3.5B last quarter. And that accounted for all the stock given to employees over the last 10 years during which we experienced 0-60B growth. Extrapolating that to next five years, our RSU burden cannot be more than 3 billion (since our valuation might be between 1X and 2X rather than 50X in that time). Our operational loss is at least 2B per quarter. Laying off engineers doesn't move the needle in the right direction. It just slows us down.
You have a lot more employees now. I would argue it's going to be more
The question is "is this true?" Yes. We're fucked.
DM for referral
Ok this one is NOT verified -- as it was posted in the comments section. The fact that this was casually dropped in trying to defend Apple might hint towards a slight legitimacy? not sure. Links are here: https://6figr.com/layoff/all
Nice catch
Didn't Uber just have big layoffs?
That was in marketing team. I applied for eng position. And from last 3 months??
Thought I read something about engineering layoffs too. Might be wrong