Uber announces 400 layoffs: reports
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Uber will lay off 400 staffers from its marketing unit, about one-third of the department, The New York Times reported on Monday.

"We are not making these changes because Marketing has become less important to Uber," CEO Dara Khosrowshahi said in an email to staff provided to CNN Business. "The exact opposite is true: we are making these changes because presenting a powerful, unified, and dynamic vision to the world has never been more important."


The ride-hailing company has been under increased financial pressure since a disappointing initial public offering in May. In the first three months of 2019, the company lost over $1 billion, according to earnings reports.

"There's a general sense that while we've grown fast, we've slowed down," Khosrowshahi said in the email.

A spokesperson for Uber told CNN Business it was announcing a new structure for its marketing division.

"Many of our teams are too big, which creates overlapping work, makes for unclear decision owners, and can lead to mediocre results," Khosrowshahi said in the email. "As a company, we can do more to keep the bar high, and expect more of ourselves and each other."