It’s also a high roller: As of June 2019, it had a reported post-money valuation of ~$2.5 billion. As always, we'll be at the All Hands tomorrow and will dedicate most of the time to answer your questions. The latest round of job cuts at the company brings the total number to 6,700 since the pandemic’s start, including thousands of layoffs earlier this … Got a confidential news tip? We've always pushed through tough times and come out the other side a better and stronger company—that will continue to be true tomorrow, and every day after. Uber ATG would be overvalued. Uber commenced a third round of layoffs on Monday, TechCrunch's Megan Rose Dickey first reported. "Days like today are tough for us all, and the [executive leadership team] and I will do everything we can to make certain that we won't need or have another day like this ahead of us," Khosrowshahi wrote. It is not yet clear if the acquisition will result in any layoffs. CEO Dara Khosrowshahi announced the layoffs in a company-wide email. Read the full letter from Uber CEO Dara Khosrowshahi to employees: As you know, over the past few months, our leaders have looked carefully at their teams to ensure our organizations are structured for success for the next few years. In a May interview foreshadowing the potential sale, Urmson told Business Insider: “Consolidation is going to happen [in the autonomous-mobility business]....Some companies are going to be winners, but some are going to succumb, and the crisis could accelerate it. After being shopped around, ATG’s top suitor is also a key competitor: Aurora Innovation. We all have to play a part by establishing a new normal in how we work: identifying and eliminating duplicate work, upholding high standards for performance, giving direct feedback and taking action when expectations aren't being met, and eliminating the bureaucracy that tends to creep as companies grow. But it would be a huge price cut. Data is a real-time snapshot *Data is delayed at least 15 minutes. Uber will sell its self-driving car business to Aurora Innovation, a startup founded by the former head engineer of Google’s pioneering autonomous vehicle project. The layoffs amount to roughly 1.5% of Uber's workforce, which spans 22,263 employees, according to FactSet. Uber in August laid off 400 employees from its marketing team. This month alone, Uber announced two separate rounds of layoffs that combined amount to the company cutting a quarter of its workforce year to … There is a lot of discussion about why ATG failed, why it was being sold, etc. Learn how you can leverage the Uber platform and apps to earn more, eat, commute, get a ride, simplify business travel, and more. Atg to Aurora Saw a post in uber channel that would be interesting read for Aurora folks. The layoffs amount to roughly 1.5% of Uber’s workforce, which spans 22,263 employees, according to FactSet. They could do an acqui-hire, like the Zoox deal. This has resulted in difficult but necessary changes to ensure we have the right people in the right roles in the right locations, and that we're always holding ourselves accountable to top performance. ATG functioned as a skunkworks, testing AVs on the streets of Phoenix, Toronto, Pittsburgh, and San Francisco. The company’s Advanced Technologies Group, which oversees its self-driving car program, … link Uber ATG Sold To Aurora Aurora - 700 employees, Uber - 1,200. Monday's announcement marks the third round of layoffs at Uber in recent months, with the company cutting 435 jobs in its engineering and product teams in September. Uber shut down its on-road testing for several months after that incident, and the program has faced lingering public skepticism ever since. Today is the last wave of a process we began months ago with our Marketing team, and more recently, with Product and Engineering. As part of this exercise, some of our employees are being asked to relocate, and around 350 people will be leaving the company. Basically just buy their engineers + maybe the testing facility. Looking ahead: The Aurora-ATG acquisition would be the latest in a wave of industry consolidation, layoffs, and shutdowns amid Covid-19. Uber sent out a memo today announcing layoffs, including: "Given the necessary cost cuts and the increased focus on core, we have decided to wind down the Incubator and AI Labs and pursue strategic alternatives for Uber Works." Bloomberg’s Singh estimates that if Uber decides to divest itself of self-driving group ATG and freight, Uber could slice an additional $500 million and $100 million in annual expenses. Days like today are tough for us all, and the ELT and I will do everything we can to make certain that we won't need or have another day like this ahead of us. 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