Uber CTO Thuan Pham, one of the last from Travis Kalanick's era, resigns
In a filings sent to the Securities and Exchange Commission, the San-Francisco based ride-hailing giant Uber's CEO Dara Khosrowshahi said: “As the leader of our engineering organisation for the last seven years, Thuan has made important contributions that have helped make Uber into the global technology platform it is today. I am grateful for his leadership and we all wish him the best in the future.”
In the same statement Thuan said: “While the work is never done, I feel comfortable hanging up my hat at a time when the Uber Engineering team is at peak productivity, we have built robust system scale and stability, and are well prepared to face the future. This has been a labour of love for me, and I am so proud of what we have done as a team.”
Thuan was one of the last senior executives from the era of the Founder and former CEO Travis Kalanick. While most of the top leadership had resigned and stepped down amid controversy over three years back, with Travis' resignation, Thuan had continued.
Since the outbreak of coronavirus, Uber has been facing severe challenges due to restricted mobility. A report by the publication The Information also stated that Uber is looking at cost cutting and may lay off close to 20 percent of the company's employees.
The San-Francisco based ride-hailing startup's shares have dropped more than 50 percent. While Uber was aiming to achieve profitability in the fourth quarter of this year, the impact of the pandemic has seen a significant drop in bookings and a decline in the market share. The Information report also added that the business is down by close to 80 percent.
Even India shows 77 percent drop in trips to public places in Google's COVID-19 Mobility Report. Most startups and companies have either started laying off their employees, or are giving them voluntary leaves. There also have been significant pay cuts to the tune of 25 to 30 percent.