Uber to cut 3,300 jobs in overhaul, Bloomberg News reports

JUST IN: Uber to cut 3,300 jobs in a major overhaul, according to Bloomberg News.

Uber is cutting 3,300 jobs. That's the number Bloomberg News is reporting this morning, part of what it calls a major overhaul at the company.

This is the ride hailing giant most of us have on our home screen, and you're looking at its San Francisco headquarters now. Three thousand three hundred people is not a trim. That's a serious slice of the corporate workforce, and it lands on chief executive Dara Khosrowshahi's desk, the man who spent years steering Uber from cash bonfire to actual profits.

And that's what makes this one sting. Companies used to cut when they were bleeding. Increasingly they cut when they're winning, because Wall Street rewards the discipline and the software fills the gaps. Uber hasn't laid out the full detail yet, so watch which divisions take the hit.

For 3,300 people, the overhaul is the whole story.

This is Liu Yang, reporting for HIT.