Uber savings from layoffs seen reinvested into growth, Wedbush says
Wedbush analysts say Uber’s planned 10% workforce cut could generate about $1.75 billion in total run-rate cost savings, with most reinvested rather than flowing to the bottom line.
Wedbush Securities analysts forecast Uber Technologies' plans to cut 10% of its workforce could lead to about $1.75 billion in total run rate cost savings. "That said, we expect to see all or most of the savings reinvested, and less flowing through to the bottom line," the analysts say.
They expect…