Uber lays off 3,700 employees

Uber tests $24.99 subscription for Uber Eats, cabs, scooters ...
Photo: Business Insider

Ride sharing company Uber is the latest causality of the coronavirus pandemic. The company is cutting 3,700 full-time workers and its CEO, Dara Khosrowshahi will waive his base salary through year-end.

The layoffs and related costs like severance will cost the company about $20 million.

Uber Technologies Inc. had already imposed a hiring freeze and has offered up to 14 days of financial assistance to drivers and delivery workers who were diagnosed with COVID-19, or placed in quarantine.