Uber is cutting 3,700 full-time workers — about 14% of its workforce — and its CEO will give up his base salary with the nation largely still observing social distancing guidelines and shelter-in-place orders.
The San Francisco-based company said Wednesday that the layoffs and related costs like severance will reach about $20 million.
This announcement comes just one day after another San Francisco-based tech giant, Airbnb, announced it would lay off 25% of its workforce due to a decline in travel.
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.
Uber CEO Dara Khosrowshahi will waive his base salary through the year's end.