San Francisco: Struggling financially after a lackluster initial public offering (IPO) in May, global ride-hailing major Uber is laying off 400 staffers from its 1,200-member marketing team globally, as it aims to cut costs and streamline operations.
Jill Hazelbaker, senior vice president of marketing and public affairs at Uber and CEO Dara Khosrowshahi told employees on Monday that the marketing team would have a more centralized structure, according to an internal email viewed by TechCrunch.
The reorganized marketing team would be under the leadership of Mike Strickman, vice president of performance marketing, who joined from TripAdvisor a month ago and another to-be-hired head of global marketing. “Many of Uber’s teams are ‘too big, which creates overlapping work, makes for unclear decision owners, and can lead to mediocre results’,” Khosrowshahi was quoted as saying in the report late Monday.
The company’s latest public global headcount was 24,494 global employees as of March 31.
Uber, that would report its Q2 earnings next week, had its slowest growth in Q1 and lost $1 billion.
The ride-hailing giant has had a rocky start after it became a publicly-traded company. When it issued its initial public offering in May, its stock fell by nearly 8 percent. (IANS)