Uber Technologies will cut 3,300 jobs, or roughly 10% of its global workforce, as part of an overhaul, as it looks to reduce the number of managers, the company said on Wednesday.
The cuts will reduce the number of managers in the company by 20%, CEO Dara Khosrowshahi said in an email to employees.
Uber had about 34,000 employees globally at the end of last year, according to its annual report.
The ride-hailing firm's stock rose 2% on the news, which was first reported by Bloomberg News.