Uber says cutting 3,000 jobs and trimming investment

SAN FRANCISCO - Uber on Monday announced it is cutting a quarter of its global workforce and trimming investment to survive the financial hit to its business from the coronavirus pandemic.

The San Francisco-based company is laying off about 3,000 people and stopping some investments unrelated to its core ride-share and delivery businesses, according to chief executive Dara Khosrowshahi.

"Given the dramatic impact of the pandemic, and the unpredictable nature of any eventual recovery, we are concentrating our efforts on our core mobility and delivery platforms and resizing our company to match the realities of our business," Khosrowshahi said.