Uber’s CEO hints at cheaper rides after the company announced 3,300 corporate jobs

Laying off thousands of corporate workers could just be a good thing for Uber's customers, said CEO Dara Khosrowshahi. Earlier this month, the rideshare company said it was eliminating 10% of its workforce, or about 3,300 people, in its largest round of cuts since the pandemic. Khosrowshahi said at the time the layoffs would allow for a flatter management structure and less complexity, especially useful at a time when autonomous taxi companies like Alphabet-owned Waymo increasingly threaten its rideshare business in some markets. He also said the layoffs would translate into "savings that we intend ​to reinvest in growth, innovation, and the capabilities that will matter most over the coming years.