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Uber to slash 3,700 jobs, CEO to forego salary

Uber Technologies Inc. is laying off 3,700 workers and will incur $20 million in charges related to severance and other termination benefits, according to a filing with the Securities and Exchange Commission.

The ride sharing company, which also operates restaurant food delivery and fintech services, said the company is reducing customer support and recruiting teams in connection with the impact of COVID-19 on lower trip volume. 

Uber officials are reviewing other expenses and will update any new information in filings 

The ride sharing service said CEO Dara Khosroshahi will waive his salary for the rest of the year until Dec. 31. 

Cover image: iStock