Uber’s CTO Resigns as the Company Reportedly Considers Major Layoffs
Uber's Chief Technology Officer and longest serving executive Thuan Pham has resigned, as the company reportedly considers laying off 20 percent of its employees as a cost cutting measure to help it survive the coronavirus pandemic.
The ride-hailing company said in a filing with the Securities and Exchange Commission today that Pham is leaving the company on May 16.
“As the leader of our engineering organization for the last seven years, Thuan has made important contributions that have helped make Uber into the global technology platform it is today. I am grateful for his leadership and we all wish him the best in the future,” Uber CEO Dara Khosrowshahi stated.
“While the work is never done, I feel comfortable hanging up my hat at a time when the Uber Engineering team is at peak productivity, we have built robust system scale and stability, and are well prepared to face the future,” Pham commented on his departure.
The Information recently reported that Uber executives are discussing plans to cut around 20 percent of the company’s employees. It also reported that the ride-hailing provider’s business in recent weeks is down 80 percent compared to the same period last year, as widespread city lockdown orders have wiped out demand for its services.
Uber shares have fallen more than 50 percent in the past month.