Lockdown and slowdowns are not letting even the big firms to stay afloat in the market. Hence, they are shutting business and firing employees. The latest in this list is a popular cab aggregator brand Uber. No, it’s not shutting is can business as of now rather one extension of the brand.
Uber Technologies Inc. has decided to shut it’s Uber Eats services in 7 countries. The company would seize operation of its food delivery app in countries where it’s not popular. In India, the Uber Eats has been already acquired by the market leader Zomato.
Czech Republic, Egypt, Honduras, Romania, Saudi Arabia, Uruguay, and Ukraine would be the 7 countries where it would cease operations. Further, Uber’s Middle East subsidiary, Careem, said it would cut 536 employees or 31% of its staff. Careem also suspended a portion of its public transit as a result of the pandemic related slowdown.
The move was somewhat on line. Uber Chief Executive Dara Khosrowshahi pledged to ditch low-performing food delivery markets a few months earlier. Now, the pandemic triggered slowdown has just expedited it.