May 8, 2020

Uber says 'no sacred cows' as it faces crisis

Uber executives have warned they may scale back parts of the taxi hailing app firm's business, as they try to steer the firm through the coronavirus pandemic. "There are no sacred cows," said Uber's chief financial officer Nelson Chai. Since chief executive Dara Khosrowshahi, who took over after the ouster of founder Travis Kalanick, the firm has concentrated more on its rides and food delivery business. "We're taking a hard look at our overall cost ensure our core business of rides and eats emerges stronger than ever," Mr Khosrowshahi told investors in a call to discuss the firm's quarterly results. Mr Khosrowshahi said that the crisis would delay the firm's goal of becoming profitable by a matter of "Quarters, not years".

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