Uber lays off 400 employees in marketing team

Ride-hailing company Uber Technologies Inc said on Monday it laid off 400 people globally from its marketing team.

As of Dec. 31, Uber had 22,263 employees, with 1,951 employees in sales and marketing team, according to the company’s filing.

Uber debuted on the New York Stock Exchange on May 10 at an IPO price of $45. The stock is currently trading nearly 2% below the IPO price.

Source: Reuters