Uber Technologies Inc. is cutting about 14% of its workforce and looking for more ways to save money as its ride-hailing business has dropped dramatically amid the coronavirus pandemic. The San Francisco-based company and smaller rival Lyft Inc. were part of a wave of companies that built their businesses around the idea that individuals could share their assets and use them to help earn a living. The era of social distancing has upended that sharing economy.

Source: Wall Street Journal May 06, 2020 12:03 UTC