May 18, 2020 - Economy & Business

Uber to cut 3,000 more jobs

Uber CEO Dara Khosrowshahi. Photo: Mike Cohen/Getty Images for The New York Times

Uber CEO Dara Khosrowshahi said Monday in an email to employees that the company is cutting about 3,000 more jobs and closing or consolidating 45 offices to soften the economic blow from the coronavirus pandemic, the Wall Street Journal reports.

Why it matters: Khosrowshahi's announcement comes just two weeks after the company said it would ax about 3,700 jobs and save more than $1 billion in fixed costs. Much of Uber's ride-hailing business has vanished as people stay indoors, even as the company's food delivery sector has seen a boom.

Go deeper: Democrats line up against possible Uber-Grubhub merger

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Trump's week of viral quicksand

Data: NewsWhip; Chart: Andrew Witherspoon/Axios

Stories about President Trump's photo op at St. John's church after peaceful protesters were forcefully cleared from the area averaged the most online attention of any issue about the president this week.

Why it matters: Trump's force-over-compassion approach to the demonstrators protesting the murder of George Floyd had Republican allies backpedaling to keep a distance — and led to a wave of condemnations that got plenty of online traction on their own.

Biden formally secures Democratic presidential nomination

Joe Biden speaks at Delaware State University's student cente on June 5. Photo: Jim Watson/AFP via Getty Images

Former Vice President Joe Biden became the formal Democratic presidential nominee on Friday evening, per AP.

The big picture: Biden has been the presumptive frontrunner to take on President Trump since Sen. Bernie Sanders suspended his campaign in early April.

Updated 11 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 9 p.m. ET: 6,724.516 — Total deaths: 394,018 — Total recoveries — 2,996,832Map.
  2. U.S.: Total confirmed cases as of 9 p.m. ET: 1,894,753 — Total deaths: 109,042 — Total recoveries: 491,706 — Total tested: 19,231,444Map.
  3. Public health: WHCA president says White House violated social-distancing guidelines to make reporters "a prop" — Jailing practices contribute to spread.
  4. Sports: How coronavirus could reshuffle the sports calendar.
  5. Jobs: Better-than-expected jobs report boosts stock market.
  6. Media: The Athletic lays off 8% of staff, implements company-wide pay cut.