Mass layoffs at California-based Uber as thousands of jobs wiped out — and it’s bad news for Gen Z

California-based Uber has announced a major organizational restructuring, revealing plans to eliminate 10% of its global workforce, impacting approximately 3,300 employees.

In a memo shared on the company’s website, CEO Dara Khosrowshahi said: “We are removing layers, simplifying team structures, refining our global location strategy, and focusing our people and investments against the biggest opportunities ahead of us.”

As part of this strategic pivot, the San Francisco-based ride-hailing giant is significantly scaling back its remote work policy.

“Global teams will be concentrated in our largest global hubs, NY and SF; regional teams in designated regional hubs; local teams in country hubs; and tech teams in tech hubs,” Khosrowshahi wrote.

Moving forward, Uber expects only about 1% of its workforce to remain fully remote.

“We’ll also continue to reinforce compliance with our hybrid work policy, which requires three days a week in the office.”

Investors responded positively to the cost-cutting measures, sending Uber’s stock up 2.4% on Wednesday morning following the announcement.

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