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Coronavirus forces Uber to cut 3,700 jobs

Popular ride-hailing taxi company Uber has announced it's sadly cutting 3,700 jobs, Uber is the next big business to become a casualty of the COVID-19 pandemic. Due to the pandemic and government-imposed lockdowns that have been put in place in many countries, consumer behaviour is changing and customers are using taxi services less frequently.  This sharp fall in demand directly contributed to the job cuts and the immediate goal of the San Francisco based Uber, is to quickly reduce it's operating expenses.

Additionally, Uber CEO Dara Khosrowshahi has also decided to forfeit his salary for the rest of the year. This latest news comes just a year after Uber's IPO which valued Uber at over $82 BN, it is unknown how long the recovery from the COVID-19 pandemic will take.

Global News Team

May 6, 2020

Volvo to Sell Solely Electric Cars by 2030

In a bid to accelerate their plans to completely phase out combustion engine vehicles, Swedish automobile giants, Volvo, has committed their resources to making their model line-up fully electric by 2030. As automakers around the world are in support of establishing stricter pollution regulations, big names in the sector are reportedly facilitating the production of electric vehicles.

Volvo’s recent habits are vivid indications of their commitment to investing in their online sales systems, and their goal to switch to transparent and set pricing models, in a bid to radically reduce complexity in their products. Reports reveal that Volvo is set to sell their new line-up of electric cars, solely online. 

Technology News Team

March 2, 2021

Technology News Team

June 16, 2020

Virgin Atlantic may not reopen in Gatwick Airport

Virgin Atlantic have found recent months extremely difficult with majority shareholder and founder Richard Branson calling on the government to step in and help the troubled airline. 51% of Virgin Atlantic is owned by the Virgin Group with the remaining 49% owned by Delta Air Lines.  The airline is also moving its operations from Gatwick to Heathrow. As a result, over 3,000 jobs will be cut as demand for air travel has fallen to its lowest levels in decades. Many countries are currently unsure as to when and how to reopen their borders post-COVID-19. However, the airline have indicated that they will still keep their slots in Gatwick and they may return to Gatwick based on demand.

United Kingdom News Team

May 5, 2020