Uber has announced another round of cost-cutting which will see 3,000 more workers laid off.
It now represents a culling of about 25% of its workforce after laying off 3,700 employees earlier this month.
It means the closure or merging of about 40 offices around the world.
It will result in a one-off saving of up to $260 million and about $1 billion in annual cost savings going forward.
Uber said ride volumes have been down about 80% although they are slowly starting to rebound.
"We have made the incredibly difficult decision to reduce our workforce by around 3,000 people, and to reduce investments in several non-core projects," CEO Dara Khosrowshahi said in a memo to employees.
"I realized that hoping the world would return to normal within any predictable time frame, so we could pick up where we left off on our path to profitability, was not a viable option."
It will continue to focus on the core ride-hailing and food delivery businesses, Khosrowshahi said.
Due to stay at home orders, the UberEats food delivery orders have spiked while passenger rides had plummeted.
Uber also said it will relocate its Asia-Pacific headquarters out of Singapore to ‘a market where we operate our services.’
That could be Australia or possibly India, as it now has very little coverage elsewhere in Asia after selling out to Grab in Southeast Asia and Didi in China.
