Ride-hailing pioneer Uber plans to lay off 3,700 employees, according to a report from CNBC citing a Securities and Exchange Commission filing Wednesday.
The San Francisco-based company is making the job cuts to its customer support and recruiting divisions, the report said. The layoffs represent about 14% of Uber's total workforce.
Uber also announced in the SEC filing that CEO Dara Khosrowshahi will forgo his salary for the remainder of the year, CNBC reported. He made $1 million in 2019.
The layoff announcement comes a day after Airbnb, another San Francisco-based company, announced it was cutting 1,900 jobs, or about 25% of its workforce.
Uber Technologies Inc. (NYSE:UBER) shares fell as much as 4.4% during midday Wednesday trading but rebounded later in the day to close at $27.82, down 25 cents, or less than 1%.