For the second time in a few months, taxi company Uber will fire more than 400 people. The company announced this last Tuesday after trading hours, which is struggling with rising losses and a falling share price.

"It is important that we continue to make progress," CEO Dara Khosrowshahi writes in an email sent by the New York Times.

Where about 30% of the marketing department had to leave the field two months ago, this now concerns about 8% of the software makers. Last month, the company, which has been in existence for ten years and has never turned a profit, reported its biggest loss ever: $ 5,24 billion. According to Khosrowshahi, the company has grown fast and decentralized in the past, which has not worked out well. From now on a staff freeze will apply.

Is the end of the ride in sight for Uber?

Meanwhile, the tide is not going well politically either. At home in California, the local parliament is voting this week on a new law to regulate working conditions and job security differently. Analysts expect the company to pay more to its drivers as a result.

In an email to the 27.000 employees of the taxi company, CEO claims Dara Khosrowshahi that the layoffs "were not done for Wall Street." According to the CEO who joined the company in 2017, the company is doing it 'to regain its sharpness'.

Executive officer of Uber Khosrowshahi.

Dara Khosrowshahi is an Iranian-American businessman and the chief executive officer of Uber. Khosrowshahi was previously CEO of Expedia Group, a company that owns several travel cost aggregators. He is also a member of the board of directors of BET.com, Hotels.com and The New York Times Company.

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