Uber is freezing hiring for software engineers and product managers across its US and Canadian workforce, the company acknowledged to Bloomberg on Friday.
The shift was reported by Yahoo earlier in the day.
The freeze does not apply to Uber's autonomous vehicle and freight shipping divisions.
The news comes a day after Uber reported second quarter operating losses of $5.4 billion—a new record for the company.
That figure exaggerates Uber's quarterly burn rate because it includes more than $4 billion in one-time charges related to Uber's initial public offering.
Still, excluding IPO-related charges still leaves around $1.2 billion in operating losses, worse than the $1 billion the firm lost in the first quarter.
Dara Khosrowshahi is the new man behind Uber, elected as the new CEO.
To succeed, he needs to kill two birds with a single stone.
He needs to win at “inner game” first, that is possible only if the man succeeds in removing internal barrier and secondly succeed in the “outer game” too by increasing the net profit worth.
Khosrowshahi is no stranger to competitive pressure.
The man battled successfully to take Expedia to the category of one of the most profit making companies.
What Helped Khosrowshahi Succeed in Winning the Heated Battle At Uber?
The days of cheap ride-hailing may be ending.
Uber and Lyft reported quarterly financial results this week and indicated that their cutthroat competition to woo riders with coupons and other gambits is easing.
Lyft officials told investors they had raised prices on routes in some cities in June, and touted the company’s upcoming pricing algorithms, which they hinted might be able to more precisely predict what riders might be willing to pay for a ride.
Uber CEO Dara Khosrowshahi said that his company’s rivalry with the other big San Francisco-based ride-hailing company had cooled—for now.
“We and Lyft are big-time competitors here and have been for some period of time, but for now we’re seeing generally, category positions that are stable,” he told investors Thursday.
“We are focused on improving profitability in this market.”
Mr. Kalpesh Patel, the Founder and CEO of Solution Analysts, has recently shared his insights in an interview conducted by TopDevelopers.
In his exclusive and candid interview, he talks about his company, his journey as a technopreneur, and his role in developing the business.
TopDevelopers is a reliable B2B research and review agency to help entrepreneurs connect with the top software solution providers.
Headquartered in Ahmedabad, today, the company has a global corporate office in the USA.
As per Mr. Kalpesh, the company’s focus always remains on the quality-driven agility while developing customized enterprise software.
In the eight years of journey, Solution Analysts has addressed diverse client requirements across various industry sectors and helps many startups to thrive with cost-effective services..
On the surface, this appears to be a near perfect system as Uber capitalizes on the under-utilized resources that are already within the environment rather than providing a service that requires them to source a fleet of vehicles on their own tab.
Need for On-demand Ridesharing App Platform using E-Bikes
However, there is one major flaw, travel in the big city especially during rush hour does not easily accommodate large and cumbersome vehicles as roads are typically congested and underground trains do not offer a direct route in most cases.
E-bikes Will Bring Mobility to the Travel Industry and the Sharing Economy
Sometimes we get caught in a situation where the traffic is a too heavy drive, but our destination is just too far to walk, travel time not even considered.
The obvious advantage to electric bikes and scooters here is that what they lack in the amount of power a car has, they make up for it with maneuverability that almost matches walking.
The Stellar Foundation’s Current CEO is Now its Chief Architect
The news of her appointment was made known via a recent press release put out by the foundation.
The press release revealed that the foundation’s current executive director and co-founder of the foundation, Jed McCaleb, is now in charge of the network protocol and adoption strategy.
While working at the not-for-profit internet company, reports revealed that Dixon championed the firm’s fight for net neutrality and control over personal data.
Her experience leading operations, business and her work on policy at Mozilla will also be an added advantage to the crypto project.
Mozilla’s primary product is its web browser—Mozilla Firefox, which was released in September 2002 (closing in on 17 years).
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Just days after Hong Kong’s giant airline Cathay Pacific appointed new CEO, the carrier has also appointed new chief executive for its newest wholly owned subsidiary, HK Express.
Cathay Pacific veteran Mandy Ng takes over as the CEO of HK Express from former CEO Ronald Lam.
Ronald Lam has been appointed chief customer and commercial officer.
Ronald also assumes the chairmanship of HK Express.Read More....
