Uber cut 3,300 jobs on Sept. 2. Wall Street read it as an efficiency move, and the stock increased by 2%. A week later, the CEO told investors where the savings are actually going. The answer is not what most people expected. Speaking at the Goldman Sachs Communacopia and Technology Conference on Sept. 10, CEO Dara Khosrowshahi said Uber plans to use the money it saves from the layoffs to bring prices down for riders, Seeking Alpha reported. That is not the typical playbook. Most companies that cut this many jobs pocket the savings as margin.
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