Uber to lay off 3,700 workers and CEO to waive salary

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FILE – In this Nov. 15, 2019, file photo an Uber office is seen in Secaucus, N.J. Just as the coronavirus outbreak has boxed in society, it’s also squeezed high-flying tech companies reliant on people’s freedom to move around and get together. Uber has tried to reassure investors that it has enough cash to weather the fallout from the global pandemic and is turning to deliveries to make up for lost income after ride-hailing screeched to a halt.  (AP Photo/Seth Wenig, File)

NEW YORK (AP) — Uber is cutting 3,700 full-time workers and its CEO will give up his base salary with the nation largely still in lockdown.

The San Francisco company said Wednesday that the layoffs and related costs like severance will reach about $20 million.

Uber Technologies Inc. had already imposed a hiring freeze and has offered up to 14 days of financial assistance to drivers and delivery workers who were diagnosed with COVID-19, or placed in quarantine.

Chief Executive Dara Khosrowshahi will waive his base salary through year-end.

The company, which is scheduled to report quarterly financial results after the bell Thursday, said it is evaluating other cost cuts.

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