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Uber and Booking.com in turmoil

2020-08-07T17:28:38.079Z

Collapse in turnover, abysmal losses, workforce reduced by a quarter… Worries are piling up.Even expected, the free fall in the results of the past semester makes you dizzy. At the heart of the storm, Uber and Booking.com suffered, each in their own way, from containment measures and the stoppage of travel around the world because of the coronavirus. From April to June, Uber lost $ 1.8 billion as demand collapsed. Its sales plummeted 29% to $ 2.2 billion. Investors, who are impatient to ...



Even expected, the free fall in the results of the past semester makes you dizzy. At the heart of the storm, Uber and Booking.com suffered, each in their own way, from containment measures and the stoppage of travel around the world because of the coronavirus. From April to June, Uber lost $ 1.8 billion as demand collapsed. Its sales plummeted 29% to $ 2.2 billion. Investors, who are impatient to see the California company become profitable, will have to wait a little longer.

Read also: The global economy is not immune to a second wave, warns the OECD

Before the pandemic, Uber planned to make its first profits in the last quarter of 2020. In the spring, its executives had warned that the target would be delayed by several quarters. Dara Khosrowshahi, CEO, now expects 2021. For this, it was urgently necessary to cut costs. Almost a quarter of employees were made redundant in the spring and activities were halted in many countries.

In its misfortune, the company can always

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Source: lefigaro

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