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Uber lays off 3,700 as virus upends sharing economy

 

Last updated 5/6/2020 at 7:35pm



CATHY BUSSEWITZ

AP Business Writer

NEW YORK (AP) — In a world where the coronavirus pandemic has turned social distancing into a new way of life, companies whose business models bank on people's willingness to share their personal space are now struggling.

Uber said Wednesday it's cutting 3,700 full-time workers, or about 14% of its workforce, as people fearful of infection either stay indoors or try to limit contact with others to minimize risk when they do venture out. Rival Lyft and home-sharing service Airbnb have also announced cuts because of falling usage.

The layoffs and related...



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