From the greatest hope in the stock exchange year 2019, Uber , has become a big disappointment. Are disappointed the employees, which was promised a reward by rising shares. Are disappointed the investors, who had driven the value of the company in unrealistic heights. And also, the Management is disappointed. Two years after the forced departure of the company’s founder, Travis Kalanick, Uber has managed to turn a solid profit and had to pull in the last few months, three redundancy rounds.
However, the image of a company with continuing losses and growing competition by other providers is not reflected in wages in the Manager. CEO Dara Khosrowshahi received in the past year, a big salary package of $ 45.3 million, while a number of Uber drivers can keep themselves financially barely above water. Although California is trying to straighten out the massive gap in wages between the drivers and the managers something.
The drivers are only a transitional product
A new law wants to force Uber to treat drivers as regular employees, not only as a free employees. This would increase the cost of the company is strong and the financial future of more obscure, because Uber benefits as the permanent employees would have to pay them the same social. Uber refuses, however,, this rule to enforce, and is, despite the numerous low also in this case, ready to go to court. Khosrowshahi sees the company as an “operating system for everyone’s everyday life”, something like a digital application with robots. Goal number one is to get rid of the driver and replace it with self-driving Taxis. The driver is only a transitional product.
in addition to the drivers, employees of the frustration is growing, however, at the Festival. And this is not least because of Travis Kalanick. The founder of the company, was sold last week a big package of shares of 547 million dollars in the stock market, 20 percent of his share, and set the case rate in addition to under pressure. The papers fell to a low point and listed about 40% below the value of the IPO in may. The timing was no coincidence. After a period of 180 days after the IPO, the investors and the Manager had the first Chance, their shares in the market to dispose of.
This opportunity had also had thousands of employees based in recent years, a substantial part of their salary in the Form of options On shares and, therefore, lower wages. They hoped to finally be able to cash make. Many tried to save what could be saved and sold out of fear that the price could fall more. This is according to the financial media induced self-employees to Sell, who wanted to redeem their options actually are until later. Heated discussions in Chat groups and on Facebook contributed to the sell-out mood.
in a Good mood: Uber-founder Travis Kalanick has earned 547 million Dollars – because he abstiess Uber-shares. Photo: Keystone
As you took in 2016, your body have been shown their rosy projections with a year-doubled growth, recalls a former employee. The share will rise to 100 dollars, but certainly not below 40 (currently $ 27). At that time, the company was valued at 68 billion; a growth of more than 100 billion was considered safe. Most of the employees believed the growth of the fairy tale and forgot that only a tiny number of Start-up companies creates the jump in the Superliga. This year, the Illusion was not destroyed, since, in addition to Uber, the IPOs of Lyft, Pinterest and Slack mithielten of the imagination and frustrated employees with cancelled share packages left.
Uber is currently being assessed with 45 billion dollars, but without the path to the income threshold would become clearer. A wall street Analyst, the company explained even to the “Horror Show”, as the final Numbers were known. The loss for the quarter increased within a year of 986 million to $ 1.2 billion; this is after all, a 30 percent to 3.8 billion increase in sales. In the year 2021 it will be profitable, the last promise, the on the stock exchange to believe, hardly anyone seems to.
After all, champagne mood prior to the IPO, the reality has made the place. Khosrowshahi has launched a cost-cutting program, since may, more than a thousand employees laid off and asked the rest to savings proposals. First results appear, however, modest: There should be no party balloons, and instead of coffee from a specialty roaster the brew from Starbucks will be served. Saving: some 100’000 dollars. Uber is too big, says the boss, and get only mediocre results: “We require our employees that they make in the future more with less.” How nervous the mood is proved Khosrowshahi, however, itself.
The head of the company compared to the murder of the journalist Jamal Kashoggi with the death of a woman who was run over by an Uber car.
In an Interview Sunday, he compared the murder of the journalist Jamal Kashoggi, an employee of the “Washington Post”, with the death of a foot-goer, who was run over on a test ride from an Uber car. The Saudis have made a “mistake”. “We all make mistakes. This is not to say that you can’t forgive.” The uproar over a view that the CIA, the Saudi crown Prince had been directly attributed to the assassination of an excusable error, forced the Uber-boss to an embarrassing climb-down. Immediately he apologized. “I said, not something I believe in.”
What he didn’t mention is that the Saudi has invested the funds in Uber, a seat on the Board occupied last year, up from 400 million a year into the new company of Uber founder Kalanick put.
Created: 18.11.2019, 11:07 PM
