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Illustration: Lazaro Gamio/Axios

As people continue to stay home amid the coronavirus pandemic, leadership at Uber is discussing potentially laying off as much as 20% of the company's workforce, according to The Information. The company's chief technology officer, Thuan Pham, has also recently resigned, Uber confirms.

The big picture: Though Uber's food delivery business is experiencing a boom as restaurants seek to remain afloat, much of its ride-hailing business has dissipated — dipping 60–70% in Seattle during the height of the city's outbreak, for example.

  • The company also recently withdrew its financial forecast for the rest of the year, signaling it anticipates its business to be affected for months to come.

Per a spokesperson: "As you would expect, the company is looking at every possible scenario to ensure we get to the other side of this crisis in a stronger position than ever."

Go deeper: The gig economy's coronavirus test

Go deeper

California labor commissioner sues Uber and Lyft

Photo: Lane Turner/The Boston Globe via Getty Images

California's Labor Commission has filed lawsuits against Uber and Lyft, accusing them of "committing wage theft by misclassifying employees as independent contractors." The suit will replace individual claims that drivers have filed.

Why it matters: This is the latest move by California officials seeking to force the companies to reclassify their drivers from independent contractors to employees following a new law that went into effect in January.

Updated 10 mins ago - Health

The case for Operation Warp Speed 2.0

Illustration: Annelise Capossela/Axios

Omicron's blitz around the world has underscored the need for a new arsenal of COVID vaccines and therapeutics, experts say — and that may require an effort akin to Operation Warp Speed 2.0.

Why it matters: The virus will continue to evolve, potentially in a way that further escapes vaccine protection, and the best way to prevent more global disruptions to everyday life is to have tools ready to combat whatever comes next.

Ina Fried, author of Login
37 mins ago - Technology
Column / Signal Boost

Microsoft's metaverse maneuvering

Illustration: Annelise Capossela/Axios

Microsoft is pitching investors and regulators that its $68 billion Activision Blizzard deal is all about the metaverse, that nebulous buzzword taking the tech world by storm.

What they're saying: By my colleague Stephen Totilo's count, Nadella used the word "metaverse" at least five times in his conference call discussing the deal. Activision Blizzard CEO Bobby Kotick mentioned the metaverse four times, while Microsoft gaming chief Phil Spencer used the term twice.