Uber lays off 400 out of 1,200 marketing employees

Uber is laying off 400 employees from its marketing team across 75 offices, the company told the New York Times. Before the cuts, it had about 1,200 marketing employees.

Why it matters: It's not surprising to see Uber attempt to cut costs after a rocky IPO and after its CEO eliminated chief marketing officer Rebecca Messina's position last month. Uber is also reporting its quarterly earnings next week.