# Third round of layoffs hit Uber



## everythingsuber (Sep 29, 2015)

1% of the work force this time around. Market likes it. Never understand that but whatever ?
https://seekingalpha.com/news/3505593-third-round-layoffs-hit-uber


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## Dekero (Sep 24, 2019)

Awesome... Let them all get fired... Bout time actual Uber employees feel the real world... 

Maybe they can sign up and drive for LYFT to help pay for that expensive San Francisco housing... Bahahha

Karma is such a [email protected]@@h....


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## tohunt4me (Nov 23, 2015)

That will make the Rest Work Harder !

Cull the Herd & 15% paycuts for the Survivors !


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## Disgusted Driver (Jan 9, 2015)

Market likes it because it's cutting fat to them, reduce overhead increases profits (or in Uber's case reduces losses).

Speaking of which, if Uber fires you will they allow you to drive for them?


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## tohunt4me (Nov 23, 2015)

EASIEST WAY TO ACHIEVE QUARTERLY GAINS

LAYOFFS !

THE LAZY WAY TO ACHIEVE GAINS !


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## Cold Fusion (Aug 28, 2019)

Dekero said:


> Awesome... Let them all get fired... Bout time actual Uber employees feel the real world...
> 
> Maybe they can sign up and drive for LYFT to help pay for that expensive San Francisco housing... Bahahha
> 
> Karma is such a [email protected]@@h....


.....or utilize their information technology credentials, education & experience in a industry desperate for 
qualified workers and secure another $150k +++annual position ✅


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## Roadmasta (Aug 4, 2017)

$2,500 deductable coming soon.


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## everythingsuber (Sep 29, 2015)

Disgusted Driver said:


> Market likes it because it's cutting fat to them, reduce overhead increases profits (or in Uber's case reduces losses).


Im suspecting they've gone past cutting fat though? They've be pushing the concept they've been in growth mode this year. Seems to be hitting the brakes earlier than planned ? quarters financials are going to be interesting.



Roadmasta said:


> $2,500 deductable coming soon.


That's going to cull the herd ?


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## tohunt4me (Nov 23, 2015)

MARKET CRASH IS COMING IN NEXT FEW YEARS.
GLOBAL.
GOING TO BE LIKE 2008 BUT WORSE.
SECOND DIP DEPRESSION.


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## 1.5xorbust (Nov 22, 2017)

Survivors get the nice new offices in Chicago and Dallas.


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## tohunt4me (Nov 23, 2015)

1.5xorbust said:


> Survivors get the nice new offices in Chicago and Dallas.


TO OIL THE REPLACEMENT " ROBOT STAFF" !

AUTOMATION IS MORE SUITED TO RUNNING A BUSINESS THAN DRIVING.

MORE CONTROLLED ENVIRONMENT.


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## Disgusted Driver (Jan 9, 2015)

everythingsuber said:


> That's going to cull the herd ?


Raising the deductible to $2500 SHOULD cull the herd but I don't think it will. We have superants here driving Lyft for 30 cents a mile or 18 cents a mile on the rental program and very happy that they are clearing $10 an hour for a 50 hour week. They have no idea what the insurance is like and never will until they need it.


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## 1.5xorbust (Nov 22, 2017)

tohunt4me said:


> MARKET CRASH IS COMING IN NEXT FEW YEARS.
> GLOBAL.
> GOING TO BE LIKE 2008 BUT WORSE.
> SECOND DIP DEPRESSION.


Source?


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## tohunt4me (Nov 23, 2015)

1.5xorbust said:


> Source?


Me.
( watching early indicators)
Birds Flying South.


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## Dekero (Sep 24, 2019)

Cold Fusion said:


> .....or utilize their information technology credentials, education & experience in a industry desperate for
> qualified workers and secure another $150k +++annual position ✅


Move on ANT, adults are talking here ...


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## soontobeautomated (Apr 4, 2017)

I can just imagine the internal communications.

Lower staffing levels mean more work for you. More work means more $$$'s for you!!

That's the logic, right? :thumbup:

It seems working for FUber IS flexible. You can enjoy the flexibility of getting shown the exit door at any time. Go Dara.....drain that swamp!


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## goneubering (Aug 17, 2017)

everythingsuber said:


> Im suspecting they've gone past cutting fat though? They've be pushing the concept they've been in growth mode this year. Seems to be hitting the brakes earlier than planned ? quarters financials are going to be interesting.
> 
> 
> That's going to cull the herd ?


They haven't cut nearly enough in my opinion.


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## uberdriverfornow (Jan 10, 2016)

Lyft would rather steal from drivers and screw drivers over with scrupulous policies than try to cut costs


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## Riley3262019 (Mar 26, 2019)

Disgusted Driver said:


> Market likes it because it's cutting fat to them, reduce overhead increases profits (or in Uber's case reduces losses).
> 
> Speaking of which, if Uber fires you will they allow you to drive for them?


What an irony!


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## nouberipo (Jul 24, 2018)

Cold Fusion said:


> .....or utilize their information technology credentials, education & experience in a industry desperate for
> qualified workers and secure another $150k +++annual position ✅


what??? utilize their skills that are used to lie and manipulate? Don't you think these Uber employees have done enough damage culturally through their unethical, immoral, and unprincipled culture? I don't know which comes first with the organization, chicken or the egg, in terms of their hiring monsters or does the company turn them into monsters. Either way it is the last thing I want permeating into other segments of society. Uber is nothing but a third-world manipulative company that exploits drivers, paxoles, and investors and does not have a net positive impact on society no matter how one figures it. One can have hard skills but it is the soft skills (first world versus third world cultural worldview) that makes a world of difference) and something cannot be taught. Culture is ingrained......just look at Dara or the third-world Uber call centers or the third-world programmers.


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## Riley3262019 (Mar 26, 2019)

everythingsuber said:


> 1% of the work force this time around. Market likes it. Never understand that but whatever ?
> https://seekingalpha.com/news/3505593-third-round-layoffs-hit-uber


The reality is that Uber is over-bloated and hemorrhaging money. We all know that. Ideally, a business such as this should be a lean organization and shouldn't require that many in house marketing staff and many other money wasting departments at Uber HQ. Heck, other than R & D, some technical expertise and managerial staff, marketing, customer service and a host of other departments can be outsourced to others. My guess is that the folks at Uber corporate stumbled on a great idea (which incidentally isn't a novel idea) and just went crazy. Since going public, they have had to live in reality land versus their previous lalaland. Here in Indiana, precisely in Bloomington, some college kids just launched a subscription based ride share app and the last time I read about them, they seem to be taking off really good. My prediction is that if Uber doesn't change its unethical business practice vis a vis the drivers, they will collapse sooner than we think.



nouberipo said:


> what??? utilize their skills that are used to lie and manipulate? Don't you think these Uber employees have done enough damage culturally through their unethical, immoral, and unprincipled culture? I don't know which comes first with the organization, chicken or the egg, in terms of their hiring monsters or does the company turn them into monsters. Either way it is the last thing I want permeating into other segments of society. Uber is nothing but a third-world manipulative company that exploits drivers, paxoles, and investors and does not have a net positive impact on society no matter how one figures it. One can have hard skills but it is the soft skills (first world versus third world cultural worldview) that makes a world of difference) and something cannot be taught. Culture is ingrained......just look at Dara or the third-world Uber call centers or the third-world programmers.


Couldn't have been said better.


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## goneubering (Aug 17, 2017)

Riley3262019 said:


> The reality is that Uber is over-bloated and hemorrhaging money. We all know that. Ideally, a business such as this should be a lean organization and shouldn't require that many in house marketing staff and many other money wasting departments at Uber HQ. Heck, other than R & D, some technical expertise and managerial staff, marketing, customer service and a host of other departments can be outsourced to others. My guess is that the folks at Uber corporate stumbled on a great idea (which incidentally isn't a novel idea) and just went crazy. Since going public, they have had to live in reality land versus their previous lalaland. Here in Indiana, precisely in Bloomington, some college kids just launched a subscription based ride share app and the last time I read about them, they seem to be taking off really good. My prediction is that if Uber doesn't change its unethical business practice vis a vis the drivers, they will collapse sooner than we think.
> 
> 
> Couldn't have been said better.


They've got too much money in the bank to collapse quickly. I know it's a popular notion here for Uber to crash and burn but they're going to be around for a long time.


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## Uber_Yota_916 (May 1, 2017)

The Soft Bank robber will give himself another 40 million in performance bonuses. All hail Emperor Dara!


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## Jon77 (Dec 6, 2018)

1.5xorbust said:


> Source?


Numerous articles on Seeking Alpha, The Motlely Fool and Marketwatcch.com
Historically high PE ratio's.
High and uncontrollable levels of budget deficits together with political uncertainties, ie trade wars.
And history itself, recessions always reoccur periodically.

The good news is this is only bad for people who are not prepared for what is inevitable.
During recessions everything goes on sale, stocks, real estate, cars, boats, rv's, everything.

The trick is to make sure you're indispensable at work, and in an industry that has a low to moderate likelihood of being severely hit.
Keep debt to a minimum and start building up a cash reserve for the coming **** of "everything must go sales".
When the tide moves out you can clearly see who's been swimming naked.

When I think back to the crash of 08 I feel nothing but fondness in my heart.
My only regret is it wasn't long enough, we recovered way too quickly.


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## touberornottouber (Aug 12, 2016)

They could be profitable right now if they totally eliminated the driverless vehicle department. I'm surprised the investors don't demand this.


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## Aneed Momoney (Apr 3, 2017)

everythingsuber said:


> 1% of the work force this time around. Market likes it. Never understand that but whatever ?
> https://seekingalpha.com/news/3505593-third-round-layoffs-hit-uber


Layoffs mean closer to profitability (in theory) so depending on the situation the market likes it.


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## ABC123DEF (Jun 9, 2015)

tohunt4me said:


> MARKET CRASH IS COMING IN NEXT FEW YEARS.
> GLOBAL.
> GOING TO BE LIKE 2008 BUT WORSE.
> SECOND DIP DEPRESSION.


One can only HOPE you're wrong!


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## peteyvavs (Nov 18, 2015)

I don’t expect to see too much sympathy from drivers, after all Uber employees looked at drivers as a disposable commodity.


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## O-Side Uber (Jul 26, 2017)

Looks like the laid -off employees will have to put that Uber sticker up in the family van windshield and see first hand what all of their evil algorithm programming and rate cuts has come to. Karma is a *****!!


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## snert (Sep 1, 2016)

touberornottouber said:


> They could be profitable right now if they totally eliminated the driverless vehicle department. I'm surprised the investors don't demand this.


Do you really believe that?
Countless reports say that Uber pay more to provide the service than they actually collect in fares, some claim 50% more.
I would not know since I have no knowledge of big business, but as a small business owner, I know that if your outgoings are more than your income...you have a problem...?
But then small business is not controlled by the FOMO crowd.
Greed is everything


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## jocker12 (May 11, 2017)

touberornottouber said:


> They could be profitable right now if they totally eliminated the driverless vehicle department. I'm surprised the investors don't demand this.


They've already started to fire people from there - Advanced Technology Group (ATG) is their self driving cars unit.

However, they only own 51% of that, because the rest of it is own by Toyota.

As they start eliminating positions on their side, they need to start selling as long as all the idiotic nerds still believe self driving cars are possible.


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## Jay Dean (Apr 3, 2015)

All this means is they will move to Austin and work at the hundreds of tech companies here and make my rent go up even more, it’s what they all do.


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## touberornottouber (Aug 12, 2016)

snert said:


> Do you really believe that?
> Countless reports say that Uber pay more to provide the service than they actually collect in fares, some claim 50% more.
> I would not know since I have no knowledge of big business, but as a small business owner, I know that if your outgoings are more than your income...you have a problem...?
> But then small business is not controlled by the FOMO crowd.
> Greed is everything


How? It's an app. We are providing the cars and the gas. In my area they are typically taking 50% of the fare.


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## goneubering (Aug 17, 2017)

touberornottouber said:


> They could be profitable right now if they totally eliminated the driverless vehicle department. I'm surprised the investors don't demand this.


They need to do more than shut down their way overhyped SDC program but it would be a good start.


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## AveragePerson (May 18, 2018)

touberornottouber said:


> They could be profitable right now if they totally eliminated the driverless vehicle department. I'm surprised the investors don't demand this.


If they eliminate driverless vehicle, their valuation collapses, so investors definitely don't demand this. You don't remove the heart to save the limb.


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## touberornottouber (Aug 12, 2016)

AveragePerson said:


> If they eliminate driverless vehicle, their valuation collapses, so investors definitely don't demand this. You don't remove the heart to save the limb.


The driverless vehicle department isn't the heart. The heart are the drivers who are actually bringing in revenue NOW. They could have been profitable from Day 1 if they focused on the here and now.


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## AveragePerson (May 18, 2018)

touberornottouber said:


> The driverless vehicle department isn't the heart. The heart are the drivers who are actually bringing in revenue NOW. They could have been profitable from Day 1 if they focused on the here and now.


Focusing on the here and now would make them bleed market share and lower their potential for the future, thus their valuation would absolutely collapse.

Also drivers are not the heart, they are like food/subsidence for the body. Comes in tasty from one end, utilized and exit the other end in it's most evolved form.


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## peteyvavs (Nov 18, 2015)

Uber reported revenue of 45 billion dollars last year, we driver’s generated that revenue with our vehicles, expenses and uncompensated time, so how the hell can Uber be losing money. The only way Uber can lose money is reckless spending and skimming.


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## Jay Dean (Apr 3, 2015)

peteyvavs said:


> Uber reported revenue of 45 billion dollars last year, we driver's generated that revenue with our vehicles, expenses and uncompensated time, so how the hell can Uber be losing money. The only way Uber can lose money is reckless spending and skimming.


Paying a ceo an astronomical wage and each tech sitting behind a computer adds up, that and all the lawsuits and the hubs...over spending vs real world costs

Add in the self driving program and everyone loses lol


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## touberornottouber (Aug 12, 2016)

Jay Dean said:


> Paying a ceo an astronomical wage and each tech sitting behind a computer adds up, that and all the lawsuits and the hubs...over spending vs real world costs
> 
> Add in the self driving program and everyone loses lol


Yes they are paying people working on weak AI salaries of $300,000 a year. Of course it's a scam. It will never be safe enough to pass politically because driving and interacting with other humans is by nature full of uncertainties. Every programmer knows that every program out there has bugs. Why does anyone think the SDV code won't have bugs?

Basically these software engineers are bilking the company out of all they can get. They know full well it will never happen -- at least not by using the existing methodologies. I don't really blame them for taking those huge salaries but I find the idiocy behind allowing it quite amusing. I honestly believe this folly will be spoken of in business books for decades.


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## Riley3262019 (Mar 26, 2019)

AveragePerson said:


> Focusing on the here and now would make them bleed market share and lower their potential for the future, thus their valuation would absolutely collapse.
> 
> Also drivers are not the heart, they are like food/subsidence for the body. Comes in tasty from one end, utilized and exit the other end in it's most evolved form.


The irony to your growth theory is that rather than grow organically, they decided to circumvent the rules, treat their driver partners poorly, get their hundreds of millions of riders used to artificial luxury they are not paying for and are contributing big to climate change. I am certain that Uber will fail as a business, its not about if but about when.


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## XPG (Oct 4, 2017)

Jay Dean said:


> Paying a ceo an astronomical wage and each tech sitting behind a computer adds up, that and all the lawsuits and the hubs...over spending vs real world costs
> 
> Add in the self driving program and everyone loses lol


 Don't forget to add the lobbying costs. And Beyonce headlined corporate events to celebrate their success that underpaid Uber drivers have nothing to do with.


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## Stevie The magic Unicorn (Apr 3, 2018)

Riley3262019 said:


> The irony to your growth theory is that rather than grow organically, they decided to circumvent the rules, treat their driver partners poorly, get their hundreds of millions of riders used to artificial luxury they are not paying for and are contributing big to climate change. I am certain that Uber will fail as a business, its not about if but about when.


The apps will stick around as a method of summoning cars, but a car on every corner will end


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## goneubering (Aug 17, 2017)

touberornottouber said:


> Yes they are paying people working on weak AI salaries of $300,000 a year. Of course it's a scam. It will never be safe enough to pass politically because driving and interacting with other humans is by nature full of uncertainties. Every programmer knows that every program out there has bugs. Why does anyone think the SDV code won't have bugs?
> 
> Basically these software engineers are bilking the company out of all they can get. They know full well it will never happen -- at least not by using the existing methodologies. I don't really blame them for taking those huge salaries but I find the idiocy behind allowing it quite amusing. I honestly believe this folly will be spoken of in business books for decades.


You nailed it. Uber's folly will be laughed at for many years.


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## Cold Fusion (Aug 28, 2019)

*Before announcing more layoffs, Uber continued its shopping spree?*
https://www.azcentral.com/story/money/2019/10/15/ubers-shopping-spree-continues/40315411/


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## TheDevilisaParttimer (Jan 2, 2019)

Michael Jackson turned into a white woman by the 90's too ?


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## The Entomologist (Sep 23, 2018)




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## Johnny Mnemonic (Sep 24, 2019)

everythingsuber said:


> 1% of the work force this time around. Market likes it. Never understand that but whatever ?
> https://seekingalpha.com/news/3505593-third-round-layoffs-hit-uber


Why does the market like it? Do you think companies flush the best and brightest first, or the dead-wood that doesn't contribute anything?



Jon77 said:


> Numerous articles on Seeking Alpha, The Motlely Fool and Marketwatcch.com
> Historically high PE ratio's.
> High and uncontrollable levels of budget deficits together with political uncertainties, ie trade wars.
> And history itself, recessions always reoccur periodically.
> ...


Half of this country has already forgotten the '08 recession, much less anything before that.

My condolences to the newly laid off staff of Uber. #driveforuber


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## Cold Fusion (Aug 28, 2019)

everythingsuber said:


> 1% of the work force this time around. Market likes it. Never understand that but whatever ?


https://www.mercurynews.com/2019/10...r-visas-as-it-lays-off-hundreds-of-employees/


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