Uber to cut 3,700 jobs, close 180 driver centers

Uber Technologies Inc., the ride-hailing company, reported its biggest loss in the last three-quarters of $2.9 million in its latest earnings report. Uber's loss went up 190% year-on-year from a loss of $1 billion in Q1 2019. Its revenue was $3.54 billion for the first quarter of 2020. Uber saw a fall of 3 percent in ride-sharing, but Uber Eats saw a year-on-year rise of 54 percent due to the increased demand for food deliveries during the pandemic. The loss of $2.9 billion includes $2.1 billion impairment losses from companies that Uber has a stake.