Uber CEO Dara Khosrowshahi denies company-wide layoffs.

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Dara Khosrowshahi, the CEO of Uber, said Thursday that he has no plans to lay off people across the whole company. Reuters reported that during an event put on by the Wall Street Journal before the annual meeting of the World Economic Forum in Davos, Uber’s CEO said that the company has been working for months to cut costs. This was so early compared to other companies that a memo the CEO wrote about taking a tougher stance “fell a bit like a lead balloon at first.”

This comes at a time when many big companies in major industries have laid off workers to save money in the world after the pandemic. Ola, which is a direct competitor of Uber, is said to have fired workers as part of what it calls a “restructuring exercise.” People who worked for Ola Cabs, Ola Financial Services, and Ola Electric have been fired. It has also given out severance packages based on the length of notice.

Also read: Microsoft fires 10,000 workers, CEO Satya Nadella says company focusing on future opportunities.

On the other hand, Reuters said that a news site called Insider reported that Twitter plans to lay off 50 employees in the product division in the coming weeks. Six weeks ago, Elon Musk told his employees that there would be no more layoffs.
After taking over Twitter in October of last year, Musk fired half of the people who worked there. As a reason for letting people go, Twitter’s new owner said that the company was facing “a massive drop in revenue” because advertisers were leaving.

Not only Twitter, but also the tech giant Microsoft has said it will lay off 10,000 people, which is almost 5% of its total workforce. Satya Nadella, the CEO of Microsoft, told his employees in an email that he is sure the company will get through this.

Reuters said that Amazon is getting rid of some jobs in the US, Canada, and Costa Rica as part of its plan to let go of 18,000 workers.

The layoffs are the latest in the U.S. technology sector, where companies are getting rid of their overworked employees and cutting costs to make up for what they spent too much on during the pandemic and get ready for a worsening global economy.