Ride-hailing trips, which generate the bulk of Uber’s revenue, dropped 80% globally in April, but the company said demand was slowly recovering.
Khosrowshahi said Uber must establish itself as a self-sustaining enterprise no longer in need of outside capital, calling the company’s food delivery business Uber Eats the “next enormous growth opportunity.”
Uber employed 28,600 people before the pandemic crippled its business, according to a regulatory filing at the end of the first quarter.
(Reuters) - Uber Technologies Inc (UBER.N) will concentrate on its core businesses in ride-hailing and food delivery and cut 23% of its workforce in an attempt to become profitable despite the coronavirus pandemic, Chief Executive Officer Dara Khosrowshahi said in an email to employees on Monday.
Demand for Uber Eats jumped 50% in the first quarter, but the unit still lost $313 million on an adjusted EBITDA basis.