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After burning through more than $5.2 billion in the second-quarter, Uber's third-quarter appears to be marked by significant cost-cutting measures.
The ride-hailing confirmed to Business Insider on Monday that it has temporarily paused hiring of engineers in North America. Yahoo Finance first reported the hiring freeze.
Transform talent with learning that worksCapability development is critical for businesses who want to push the envelope of innovation.Discover how business leaders are strategizing around building talent capabilities and empowering employee transformation.Know More "We are continuing to aggressively hire talent, including many engineers, all over the world," a spokesperson said in an email. "In the US and Canada, we were ahead of our hiring plans, so we temporarily hit pause on some teams while we ensure we're being both effective and efficient in staffing against our strategic priorities."
Despite the location-specific hiring pause, more than 1,200 roles are still open on Uber's careers website, including 149 engineering roles.
News of the hiring freeze comes less than a month after Uber laid off 400 marketing roles in offices around the world. In an email to staff, CEO Dara Khosrowshahi said the culling was designed to trim excess from teams that had become bloated in the company's first decade.
Read more: Uber marketing employees describe a 'bloodbath' when the company laid off 400 employees in more than a dozen countries
Last week, Uber reported second-quarter earnings that fell short of investor expectations, sending the stock plummeting as much as 8% Those steep losses extended into Monday, where the stock is a few cents shy of a new all-time low price near $37.
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