Uber to cut 10% of staff as the rideshare company struggles to stay afloat

Uber is cutting 10% in its workforce as it struggles to remain afloat.

The company will lay off 1,500 workers in its North American operations, which includes operations in California, Texas, and Michigan.

The layoffs come as the company’s ride-hailing app is facing mounting pressure to scale back its services and reduce the cost of rideshare to its customers.

Uber’s Chief Executive Officer Travis Kalanick said in a blog post that the company will cut its workforce by 10% and that it will also cut costs, including in operations, to make its operations more cost-efficient.

“Our employees are our strongest assets and they are going to be impacted by this,” Kalanicks said.

Uber did not provide an estimate for how many workers will be laid off.

Kalanons statement was not immediately shared by the company.

Uber has been hit by a series of controversies that have caused it to lose billions of dollars in market capitalization, as well as a series that has made it the target of numerous lawsuits and legal action.

On Tuesday, the company settled a class action lawsuit that claimed it illegally promoted its own cars through ads on ride-sharing apps and did not properly disclose to its drivers that the ads were misleading.

Uber said the settlement covers claims brought by more than 6,000 drivers who were paid by the ride-service company for rides that were not booked by them.

Uber is currently in the process of merging with rival Lyft, which was acquired by Google in 2014.

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