Feel really sorry for you guys. The person who leaked to media, I hope he/she realized he/she is causing all this pain for some extra $.
It is heartbreaking as most of the people working there never anticipated a virus will take away 80% of the business, the real question to be asked frankly is that was uber a tech company like it was marketed ?
80% ? How do you know it's 80%?
https://www.theinformation.com/briefings/7120d9 still you see lot of folks taking Uber, please take your head out of sand and read
I think it will leak in news before they will know based on trends
Agree eiott it only matters when your business model is entirely dependent on the logistics and people i.e. drivers who you have zero control Tech piece of Uber would be meaningless without it so really it is not a tech company is the point, think it thru. I know to investors it will not matter as folks stills need to have exit strategy, I read somewhere that Uber c-suite is still going to be making 40million compensation
The original proposition of Uber was that its algo would match supply and demand, creating efficiency and a market clearing price that would often make taking a Uber cheaper for customer. For drivers it offered flexibility and driving during peak times. The issue is that now there are a lot more drivers and they can only make money through Uber subsidies. Although CNBC said recently that the hailing business was forecasted to be profitable this year before Covid.
I’ll tell you how it was at Lyft. It was two weeks of sheer anxiety and torture as we knew it was coming. There did not seem to be any rhyme or reason as to who they cut. Everybody was floored at most of the choices. And those who remain are suffering from survivor’s guilt and now living the next few months with more work for some and fear of a second round. What blows the most is that if rideshare does recover they will just rehire a lot of the roles they just dismissed. And for a lot less TC since the market will be saturated with desperate job seekers. That’s how they were looking at it I believe. It was ruthless. They should have just offered rolling salary cuts. Instead they gave 982 people 10 weeks severance and furloughed 285.
Folks do not get disheartening, this was something which no one could have predicted and may be will never happen in our lifetime, it will feel shitty but I am sure you all will look back and be proud. The sad part is the people who made these decisions will never get it, but move on
How is this good advice? Stfu
Anxiety and stress are through the roof since The Information’s article on expected layoffs. Everyone’s waiting when the hammer will fall and people worried about the bleak job market out there if they get laid off. It will be a tough time not just for people at Uber but any industry that is very directly impacted by the pandemic.
Take a deep breath, write down what the worst can happen, count your blessings , start preparing on next steps, reach out to people. Try to make best of situation, keep in mind you can only control yourself not the environment Enough prep talk for Sunday 😜
We were waiting for your daily dose.
Yeah it's pretty bad
Productivity has definitely dropped! People are waiting for the hammer to fall. Earlier the better now!
Do you expect a nice severance package?
No idea! It is because of cost cutting so I am not expecting much!