July 29, 2019

Newsy Today


Uber Cuts Third Marketing Team; The Chief Executive Officer of Lyft leaves

Uber Technologies

UBER -1.44%



LFT -2.27%

He went through separate staff seminars on Monday, when Uber cut off about 400 jobs in his marketing department and Lyft ended the role of chief operating officer.

The two companies traveling forward were under pressure from Wall Street among the heavy losses and disappointing market disputes, with both stocks still falling below their initial public offering prices.

Uber cut about one-third of its marketing arm in the reorganization of a division that had grown to about 1200 employees, Uber spokesman said. Less than two months ago, Jill Hazelbaker's portfolio, which had been in communication and previous policies, was marketed.

In an email to the team, Uber Chief Executive Khosrowshahi wrote that the cuts are part of their attempt to be more agile among concerns about slowing growth.

“Simply put, we have to get our edge back. He won fast, ”he wrote. “Many of our teams are too big, creating overlapping work.”

The Uber team reductions were reported earlier by the New York Times.

Lyft said in an email to Monday's team that Jon McNeill – a former person


The executive employed in early 2018 is the chief operational officer – leaving the company and distributing its roles to other executives.

Lyft CEO Logan Green and President John Zimmer said in the email that The Wall Street Journal reviewed it was “thankfully we say good” to Mr McNeill. The message did not offer further details of why it was leaving.

Mr McNeill's focus at Lyft was the increased provision and retention of drivers, a critical issue for shared companies. He received compensation worth $ 32.8 million in 2018, including a $ 420,000 bonus “in recognition of his outstanding leadership and contributions to 2018 performance,” according to regulatory filings.

The move by Lyft and his rival decided more last month to end the chief executive as he announced Barney Harford's event. Uber said at the time that Mr Khosrowshahi wanted to take a more direct role in operations.

The role of chief executive is generally working in large public companies. In 2018, 32% of 673 companies examined by the search firm Kolder Associates had COO, from 48% in 2000.

Mr. S.'s event was reported. McNeill earlier Monday at Bloomberg News.

Write Eliot Brown at eliot.brown@wsj.com and Sarah Nassauer at sarah.nassauer@wsj.com

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