Uber shares climb 2.4% after company announces 3,300 layoffs in restructuring

Uber shares rose after announcing ~3,300 layoffs (~10% of workforce) and a restructuring that cuts management roles by ~20%, reduces microteams, and streamlines engineering and delivery operations. The move signals renewed cost discipline and faster decision-making via fewer organizational layers. Near-term market focus will be on execution risk, potential margin benefits, and whether service quality or growth initiatives are disrupted during the reorg.