Uber Seen Reinvesting Savings from Layoffs into Growth
Dow Jones
6 hours ago
1215 ET - Wedbush Securities analysts forecast Uber Technologies' plans to cut 10% of its workforce could lead to about $1.75 billion in total run rate cost savings. "That said, we expect to see all or most of the savings reinvested, and less flowing through to the bottom line," the analysts say. They expect much of the savings will be put toward the company's growth initiatives. "In our view, this announcement strengthens our conviction in Uber's capacity to drive growth while maintaining its margin expansion trajectory," they say.
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