3,300 DESK JOBS GONE AT A $150BN COMPANY

🔴 3,300 corporate jobs. About 10% of Uber's global workforce, cut in a single Wednesday message to staff.

Guardian Business reports that chief executive Dara Khosrowshahi told employees the company is restructuring to become "simpler and faster" by stripping out layers of management and merging teams.

This is not a company in trouble. Khosrowshahi said Uber has been growing for five years and the business is performing well. The problem, in his telling, is what growth built: "more layers, more coordination, more fragmented ownership, and in some cases structures that made sense when businesses were smaller."

The detail underneath the headline number is where it gets specific.

📉 So-called micro-teams, where one or two employees report to a single manager, are being reduced by nearly 50%.

📉 The number of staff sitting more than seven layers below the chief executive has been cut by 20%.

📉 Operational and tech teams are being combined.

Remote work is going too. Uber is asking the majority of staff back in, leaving less than about 1% of employees fully remote and reinforcing a three-day-a-week office policy.

Uber did not say how many roles go in each location, including London. Affected staff have been notified, with some countries following local processes.

Context for the scale: Uber launched in San Francisco in 2010 and is now valued at more than $150bn. It is also preparing to put self-driving taxis on UK roads with robotaxi firm Wayve after approval from Transport for London last month.

If a company says it is performing well, is cutting 3,300 jobs a strategy or a signal?

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