business

Uber trims more staff as it seeks a route to profit

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By Alastair Pike

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© 2019 AFP

©2020 GPlusMedia Inc.

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This:

The company said revenue grew 14 percent to $3.2 billion, but it lost $5.2 billion

Then this:

Stock related compensation expenses took a huge bite out of its revenue, the company said.

So the company managed to somehow lose $5.2 billion dollars on $3.2 billion in revenue. That is insanely bad. And then to top it off, their biggest expense is....paying off the executives who are driving the company into the ground for such a fine job they are doing!

Corporate governance at these start ups is a joke.

4 ( +4 / -0 )

Companies like Uber are not worker friendly. They hire and fire at the drop of a hat. Workers are just pawns to be moved or sacrificed in the name of profit for execs and shareholders.

1 ( +1 / -0 )

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