Uber CEO says won’t cut jobs despite mounting tech layoffs

Uber has avoided widespread layoffs, though Khosrowshahi has said the company is taking a more conservative stance on hiring and other investments. That’s after a major scale-back in 2020 when Uber dismissed more than 6,000 employees, or about a quarter of the workforce at the time, at the height of the pandemic.

In November, Uber reported third-quarter revenue jumped 72 percent to $8.34 billion, which assuaged investors’ concern that rising inflation would deter customers from hailing a ride or ordering takeout.

“We’re seeing zero signs of weakness,” Khosrowshahi said at the event. He added that Uber has been the beneficiary of a shift in consumer spending from retail to services.

Khosrowshahi was optimistic about the supply of drivers on the platform, despite a protracted shortage that has raised fares and wait times, and said that periods of economic uncertainty typically spur people to seek out side hustles in ride-hailing or food delivery. “Our driver base has increased substantially,” he said.