Report: Uber cutting 'balloon budget' for work anniversaries, will save company $250K per year
SAN FRANCISCO (KGO) -- Cuts are coming to Uber, and according to Business Insider, one of the expenses they're looking to eliminate is balloons for work anniversaries.
That would save Uber $250,000 per year.
The San Francisco-based company reportedly held an all-hands meeting Tuesday, after another disappointing earnings report.
RELATED: Uber says glitch charged some passengers $1,300 instead of $13 in San Diego
Shares fell to an all-time low Wednesday morning, trading for under $34.
Uber lost $5 billion in the 2nd quarter, in part due to IPO costs, but its revenue model remains murky. As long as investors have confidence in it, it can keep losing money
They have 25,000 employees globally - They froze the hiring of engineers and laid off 400 people in marketing.
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