Uber’s (NYSE: UBER) CEO Dara Khosrowshahi while speaking on the sidelines of the World Economic Forum’s annual meeting in Davos, Switzerland on Thursday, stated that while the ride-sharing company has been working on slashing its costs for months, it was not considering any company-wide layoffs.
Uber posted robust revenues in the third quarter. In contrast, its peer Lyft (LYFT) is struggling. The company reported dismal Q3 results and has talked about laying off 13% of its employees in a bid to cut down on its operating expenses.
Wall Street analysts are also bullish about UBER stock with a Strong Buy consensus rating based on 14 unanimous Buys.