Uber Reports $5Billion Dollars In Losses And Lays Off An Additional 350 Employees

Uber has dismissed more than 800 employees since January and is now laying off an additional 350 in a bid to reduce losses.

The cuts hit a handful of divisions, including self-driving car development and food delivery since its 5billion dollar loss in its second quarter.

Since its disappointing public offering its stock price has decreased by 30%. Investors have expressed concerns about increased losses and slow growth in the organisation.

Uber spokesman confirmed that 70% of the dismissals occurred in North America.

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