Uber India has given walking papers to 10-15% of its employees as part of a global downsizing, three people in the know told Economic Times.
Uber has around 350-400 employees in India. The layoffs will hit Uber’s day to day operations, including the food delivery business. The company sent an email to all the employees saying it would cut 350 jobs across the world, of which 70% will be in the United States and Canada.
Uber CEO Dara Khosrowshahi is set to visit India later this month.
Uber India accounts for 2% of the company's revenue, but takes a heavy toll on its expenses, making the entity a target for cost-cutting, a source said.
The third round of layoffs has taken the total tally of job cuts to 1,200. The policy team has been tapering off and most of the work is being outsourced to an Indian law firm, the source said.
Uber restructured its corporate holdings and brought its India business, including food delivery, under Uber India Systems on October 1.
Uber has been negotiating with Swiggy and Amazon to sell Uber Eats, but has failed to reach a deal. The firm has been bleeding money since going public.
Uber posted a loss of USD 5.2 billion in the second quarter of 2019, as compared to USD 3.7 billion in the Q1 of 2019. The ride-hailing firm chalked up the loss to USD 298 million spent on driver appreciation award offered as part of the IPO and USD 3.9 billion spendings towards stock-based compensation expenses.