5 ms·
The first wave of many waves for Uber. They are still overvalued by a factor of 4 or 5 X.
by rainyMammoth 7y ago
The first wave of many waves for Uber. They are still overvalued by a factor of 4 or 5 X.
- cheschire 7y agoThe article starts by saying this is the third and final wave.
- techntoke 7y agoThey will just use new terminology to describe the next ones.
- jarsin 7y agotsunami
- goatinaboat 7y agoThere is a standard management speech that goes something like “these cuts hurt me more than those former employees but now we are perfectly sized for our amazing new plan for growth”? Don’t worry, you will hear it one day...
- gvb 7y agoThere is no full stop after "phase" in the article: "third and final phase of layoffs of the process it began earlier this year" That does not preclude another "layoff process" in the (near) future.
- xbeta 7y agoThey said this is a "final wave"
- rainyMammoth 7y agoah well, if they said so we should just believe them.
- ithinkinstereo 7y agoPerhaps. But obviously they'd want to make this appear as the "final" wave to not overly-agitate existing employees. It'll be interesting to see how this quarter's earnings go (especially since the lockup expires in Nov). If the market reacts poorly, expect additional cost cuts.
- brink 7y agoNo, that would erode trust. Saying "this is the final wave", and following that up with a fourth wave of layoffs would be even worse for employee agitation, and have a worse long-term effect. I doubt Uber management is that dumb.
- rainyMammoth 7y agoSo you think there will NEVER be another waves of layoffs? This is obviously a statement they needed to make in order to calm down the current employees.
- rainyMammoth 7y agoNo. Do you really think they can promise anything? It will depends on the direction of the Stock in the next month.
- modestmasse 7y agoIf they want another wave after saying 'final wave' they just tell their managers to manage their bottom N% out during the next two quarters and call it a day. Or they can just talk about changing priorities and keep on cutting. It'd be fine in the long run.
- WrtCdEvrydy 7y ago> I doubt Uber management is that dumb. Should we tell him?
- techie128 7y agoThe fine print to such management speak is, "...this is the final wave until our bottom line improves". If Uber's financial position doesn't improve, we are guaranteed to see more "waves". Given Uber's current trajectory, I would assume they would end up cutting 30-40% staff over the next couple years. 19K employees for their business is overkill.
- notfromhere 7y agoNot according to their quarterly earnings its not. They're going to have to keep slicing until they start generating profits
- luckydata 7y agoThe final wave before the next one.