Business

Uber to close Asia-Pacific HQ in Singapore as virus impact worsens

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SINGAPORE (THE BUSINESS TIMES) – Uber will be moving its Asia-Pacific headquarters out of Singapore in the next 12 months as the Covid-19 outbreak continues to rattle its business. The Asia-Pacific hub will be relocated to another place in the region.

The US-based firm will also lay off about 3,000 more people globally and stop some of its investments unrelated to its core businesses of ride hailing and delivery.

As a result of the latest layoffs and the eventual closure of the Singapore office, around 120 roles will be impacted, Uber told The Business Times.

The company launched its Asia-Pacific hub in Frasers Tower in April last year to support its operational markets in the region. Those markets comprise India, Bangladesh, Sri Lanka, Japan, South Korea, Taiwan, Hong Kong, Australia and New Zealand.

Uber had on May 6 announced it will cut its customer support and recruiting teams by about 3,700 full-time employee roles, which will cause it to incur about US$20 million in costs related to severance and other termination benefits.

Coupled with the latest round of layoffs, global headcount will be slashed by about a quarter.

Dara KhosrowshahiRead More – Source