Uber to lay off 500 employees workforce unit

The employees under Uber car Xchange Vehicle Solutions program unit are nervous about layoffs. Uber has 40,000 vehicles under leasing program.

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Around 3 percent of Uber’s total 15,000-employee workforce effected. However, employees shifted to Uber’s customer service call centers. Nearly 500 jobs affected due to lay offs.

Uber losses closer to $9,000 per car

The two year Vehicle Solutions program launched under then CEO Travis Kalanick, losing far more money than planned.

Uber’s decided to close Xchange in misjudging the average losses per vehicle. The evaluated lose is $500 per vehicle on average. But managers informed Uber losses actually closer to $9,000 per car. In addition half the sticker price of a typical leased vehicle.

Uber is apparently looking for a buyerfor the unit and partner. The company will be make big changes. Some employees will find new roles within the company but layoffs.

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Moreover in 2016 Uber lossed 2.6 billion. Kalanick was forced to step down as CEO for long series of scandals at the company. The Company being led by a committee of 14 executives.