Uber cuts marketing staff to reduce costs

Uber on July 29 confirmed it is cutting 400 jobs from its marketing team of more than 1,200 workers to reduce costs and improve efficiency.

Uber chief executive Dara Khosrowshahi and marketing team boss Jill Hazelbaker anunced restructuring internally, along with an aim of making company's brand mess more consistent, according to company.

news was first reported by New York Times.

At end of first quarter, Uber reported having 24,494 workers worldwide, with more that 1,200 of m in marketing.

Khosrowshahi in June tightened his grip on wheel at ride-hailing firm in wake of a bumpy stock market debut.

Hazelbaker took charge of marketing department, while Uber's chief operating officer and he of marketing left in a leership shake-up that resulted in Uber's shared rides and food delivery platforms reporting directly to Khosrowshahi, according to a copy of an internal email provided to AFP.

As a factor in marketing, communications and policy consolidation, Khosrowshahi cited a need for a clear and consistent "narrative" at Uber for how company is seen by consumers, partners, policymakers and press.

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After debuting in May at USD 45 for initial public offering -- translating to a market value of USD 82 billion -- Uber shares went into reverse.

Its rival Lyft earlier in year saw its shares fall after a market debut.

Uber shares were USD 43.88 at close of formal tring in New York on July 29.

In its first earnings report as a publicly tred company, Uber said revenue climbed to USD 3.1 billion in first quarter of this year, but that it lost USD 1 billion.

Uber is to report second-quarter earnings next week.

While firm has lost billions since offering its first rides in 2011 in its home city of San Francisco, it envisions becoming "Amazon of transportation" in a future where people share inste of owning vehicles.

company has moved into electric bikes and scooters, as well as meal deliveries and has a long-term project on flying taxis. 

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