Uber lays off 3,700 as virus upends sharing economy
Last updated 5/6/2020 at 7:35pm
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...