Uber to Shut Down Los Angeles Downtown Office

Leading ride hailing firm Uber Technologies Inc. (UBER) announced that it will be closing its office in downtown Los Angeles so as to give more attentions to bigger locations.

Uber was using this Los Angeles Downtown office as the premises for customer support staff.

This news was first published by Los Angeles Times whereby they claimed closure of the office will be accompanied by a job cut of about 80 employees.

Later on Tuesday Uber spokesman confirmed closure of the office further saying employees who jobs won’t be eliminated will be transferred to a customer support office of the company located in Manila.

On the fourth quarter of 2019, Uber’s total revenue increased to $4.07 billion signifying a year on year revenue growth rate of 37%.

In the beginning of this month the company increased its revenue and earnings targets for 2020. Equally Uber also increased its net loss estimate to $1.1 billion  for the year, last year the company reported a net loss of $887 million.