Are stricter performance reviews a sign that Uber may lay off?

100,000 employees have already been laid off this year. Will Uber’s new performance review system lead them to add to the layoff frenzy in 2023?

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In 2023, several major tech companies, such as Google, Microsoft, and Meta, have announced job cuts. According to Layoffs.fyi, a website that tracks and lists tech layoffs, over 100,000 tech employees have already been laid off in 2023.

Despite Uber’s CEO, Dara Khosrowshahi, stating at the Davos World Economic Forum in January that the company had no plans for layoffs, it appears that the ride-hailing service is now planning to cut some jobs based on stricter performance reviews.

A report by Insider suggests that the number of impacted roles at Uber is unknown, but a company spokesperson has said that they plan to backfill these positions and continue to invest in attracting and retaining top talent at the company. In December 2022, Meta also reportedly announced plans to take a stricter approach to its performance review process.

In 2022, Uber reported a strong fourth quarter with a 49% YoY increase in revenue, a 19% growth in gross bookings since last year, and predicted continued growth in bookings for Q1. Meanwhile, other tech companies, such as Meta, Microsoft, and Google, had also announced layoffs, with Meta laying off nearly 11,000 workers in November 2022, Microsoft planning to lay off around 10,000 employees in January, and Google planning to cut 12,000 jobs.

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