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Uber cuts 350 jobs

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Uber cuts 350 jobs

Uber Technologies Inc. has cut about 350 jobs, CNBC reported Oct. 14, citing CEO Dara Khosrowshahi's internal email to employees.

The layoffs reportedly affect multiple divisions, including Uber Eats, performance marketing segment, advanced technologies group, global rides and platform units.

Uber did not immediately respond to S&P Global Market Intelligence's request for comment.

The layoffs are the final phase of the process that began earlier this year, according to the email cited by CNBC.

Uber cut about 400 jobs in July, followed by another 435 layoffs in September.

As of 3:18 p.m. ET, Uber shares were up 4.02%, trading at $31.34.