Uber CEO Dara Khosrowshahi said in an email to employees that Uber will cut expenses and focus on becoming a leaner business, according to Phoenix Technology.
Khosrowshahi said in an email that Uber will cut spending on marketing and incentives to ensure unit economics work well. In addition, Khosrowshahi said it will see hiring as a privilege, and Uber will carefully consider when and where to add employees.
Uber will now focus on being profitable on a free cash flow basis rather than adjusted EBITDA.
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