Uber is cutting 23% of its workforce as it tries to become profitable despite the coronavirus pandemic, Reuters reports.
The company said it will focus on its core services, ride-hailing and food delivery. Uber plans to cut 6,700 jobs and reduce investments on “non-core projects.” These new measures are expected to save the company $1 billion.
Smaller ride-hailing businesses, such as Lyft, have also reduced employees to cut costs.
Ride-hailing trips dropped 80% in April, due to coronavirus-related restrictions across the country.
Uber closed and consolidated 45 offices globally as part of its restructuring. The company is also in talks to buy GrubHub, a food delivery rival, to increase its market share.