Tag

Dara Khosrowshahi

All articles tagged with #dara khosrowshahi

business1 month ago•4 min saved

Uber trims 3,300 jobs in largest layoff since 2020 amid robotaxi push

Uber is cutting about 3,300 positions, roughly 10% of its workforce, bringing headcount to under 30,000 and marking its largest layoff since the pandemic. CEO Dara Khosrowshahi says the move will simplify the org, reduce layers, and sharpen focus on major opportunities amid growing competition from robotaxi developers like Waymo and Zoox and rivals such as Lyft. The restructuring aims to speed decision-making, and Uber is also enforcing its hybrid policy by bringing most remote workers back to the office.

via Los Angeles Times|

#business #dara-khosrowshahi #layoffs

business2 years ago•2 min saved

"Uber's CEO Leads Company to Historic First Annual Profit"

Under the leadership of CEO Dara Khosrowshahi, Uber has achieved its first annual operating profit of $1.1 billion, marking a significant turnaround from the previous year's $1.8 billion loss. Khosrowshahi's strategic decisions, including cutting back on speculative investments and implementing cost-saving measures, have contributed to the company's success. With a focus on operational efficiency and new products like Uber One, the company has managed to rebound from the challenges it faced during the pandemic, signaling a new era for the company under Khosrowshahi's leadership.

via Business Insider|

#business #dara-khosrowshahi #profit

business2 years ago•2 min saved

"Uber Surpasses Profit Estimates with Double-Digit Revenue Growth"

Uber's fourth-quarter results exceeded expectations, with a net income of $1.4 billion and revenue of $9.94 billion, driven by a 15% increase in revenue and a 22% rise in gross bookings. CEO Dara Khosrowshahi attributed the company's success to the shift in consumer spending towards services, leading to increased demand for Uber's mobility and delivery segments. However, Uber's freight business continues to struggle due to reduced consumer spending on shipping goods. The company anticipates continued growth in the first quarter of 2024, with monthly active platform consumers reaching 150 million and 2.6 billion trips completed on the platform during the period.

via CNBC|

#business #dara-khosrowshahi #earnings

business3 years ago•2 min saved

"Uber CEO Shocked by Exorbitant $52 Fare for 3-Mile NYC Ride"

Uber CEO Dara Khosrowshahi was shocked to discover that a 2.9-mile Uber ride in New York City cost $51.69, including tip, blaming it on surge pricing and inflation. However, a Forbes report revealed that Uber's prices in the US have increased at four times the rate of inflation from 2018 to 2022. Despite claiming that prices have risen with inflation, Uber's rides surged at four times the rate of inflation over nearly four years. Uber recently announced its first-ever operating profit in the second quarter of 2022, with a profit of $326 million. The company predicts additional operating profits by the end of Q3.

via New York Post |

#business #dara-khosrowshahi #earnings