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Uber’s CTO Steps Down As The Ride-Hailing Company Plans A 20% Layoff

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Uber has said in a Security and Exchange Commission filing that its Chief Technology Officer (CTO), Thuan Pham is stepping down.

 

Pham had joined Uber in 2013 and is the longest-serving executive in the company. Pham has reportedly notified the managers who report to him of his plan to leave.

 

“While the work is never done, I feel comfortable hanging up my hat at a time when the Uber Engineering team is at peak productivity, we have built robust system scale and stability, and are well prepared to face the future. This has been a labor of love for me, and I am so proud of what we have done as a team,” Pham said in a statement.

 

The Information reports that executives at Uber are also making deliberations to lay off nearly 20% of its staff. This is as it copes with a sharp decline in its car-hailing patronage due to the worldwide COVID-19 pandemic.

 

Thuan Pham, Uber’s Chief Technology Officer. Photo: Anthony Kwan/Bloomberg.
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This translates to about 5,400 of Uber’s 27,000 employees losing their jobs. Uber could also layoff as many as 800 people in its 3,800-person engineering team in the coming weeks.

 

An Uber spokesperson refused to acknowledge the prospect of layoffs. “As you would expect, the company is looking at every possible scenario to ensure we get to the other side of this crisis in a stronger position than ever,” the spokesperson said.

 

In a call to investors in March 2020 Uber CEO Dara Khosrowshahi had said its gross bookings in most major cities were down by as much as 70 percent.

 

The Information also reported recently that Uber’s overall business was down by 80% year over year. The gains from its  Uber Eats division have not been enough to make up for its big ride-hailing losses.

 

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