Why did Uber have multiple layoffs?
Having been through almost one lay-off every year at Tesla i can say without a doubt that having a single large lay-off is better for the company morale than multiple small ones. Now don’t get me wrong both are screwed up but one is definitely better than the other. My question to Uber folks is why did the leadership decide to have multiple instead of one large one. It could have all ended with one down period rather than multiple and also the company would have been able to protect its image to some extent. Are Dara and the leadership team that clueless? You gotta rip the band-aid off all at once.
California law WARN - if you lay-off more than 500 in a single month it gives certain protections to employees including 60 day notice period... so Uber laid off 400 three different months. This is Walmart level scum bag but here we are.
At business school we were told layoffs are evidence of management failure.
Definitely is. Over hiring and poor planning seems to be endemic across Silicon Valley.
Losing money at every transaction. And market punishes that behavior.
Stock price
To pump the stock multiple times? Is the short term stock price more important than employee morale and talent retention.
For the CEO whose job is also on the line, it is. Unfortunately, that's how corporations work. The stock market rewards these moves, pretty much every single time.