Uber is trading 4.6% down at $65.77 as investors react to the company cutting 10% of its customer service division, explicitly citing AI-driven efficiency as the primary reason for the move.
- The workforce reduction has sparked concerns regarding potential restructuring costs and near-term execution risks during the transition.
- Shares are also facing broader pressure alongside the technology sector as markets reevaluate the high capital expenditures and long-term profitability associated with AI investments.