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Uber CTO resigns as company reportedly planning layoffs

Uber CTO resigns as company reportedly planning layoffs - Appy Pie

Uber’s Chief Technology Officer, Thuan Pham, resigns amid reports that the company mulls further cost-cutting and plans to lay off 20 percent of its’ employees. This plan is likely to affect more than 5,400 of the company’s workers.

An Uber spokesperson declined to comment on layoffs and he said, “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.”

On Thuan Pham’s resignation Uber’s CEO Dara Khosrowshahi remarked, “As the leader of our engineering organization for the last seven years, Thuan has made important contributions that have helped make Uber into the global technology platform it is today. I am grateful for his leadership and we all wish him the best in the future.”

CTO Thuan Pham has been with Uber since 2013 and is its longest-serving executive. His last day with the company will be May 16 and his resignation certainly comes as the end of an era for Uber.

“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 taxi business has been badly hit all over the world during the lockdown and as per reports, Uber shares have fallen more than 50 percent in the past month. The report further claims that Uber’s overall business is down by almost 80 percent.

In March, Uber CEO Dara Khosrowshahi, had stated that its gross bookings in major cities around the world were down by about 70 percent. Earlier this month, Uber withdrew its annual guidance and said that its net losses would widen.

However, this is not the first time that Uber is mulling mass layoffs. Last year Uber had laid off nearly 1,000 employees from its engineering, marketing, and Uber Eats departments to cover up financial crisis.