Khosrowshahi didn't rule out more cuts for Uber, saying that it was impossible to make such a claim about Uber's future with "absolute certainty".
Uber on Monday announced it is cutting a quarter of its global workforce and trimming investment to survive the financial hit to its business from the coronavirus pandemic. Now, Uber is scrambling to cut as much as $1bn in costs by slashing its workforce and shutting some 45 offices across the world, we understand.
Uber will be refocusing on its core business, moving people and delivering food, said chief executive Dara Khosrowshahi in a note to employees.
Uber is closing or consolidating offices at various locations, including the merger of two facilities at its San Francisco base of operations.
Shares of Uber were up more than 6 percent in midday trading Monday following the layoff news.
Uber estimates it will incur 175 million to 220 million dollars (£143 million to £180 million) in charges related to the restructuring, including severance, other benefits and office closing costs, according to a federal filing.
He stated that the company has seen a 80% fall in its ride-hailing business, which is its main profit driver, amidst the crisis.
Combined with the earlier layoffs, the changes are created to save 1 billion dollars (£820 million) annually.
In addition to the layoffs, Uber has also instituted a hiring freeze and reduced its marketing budget, while Khosrowshahi renounced the rest of his 2020 salary.
The ride hailing company had shown off its new regional hub at Frasers Place past year, keeping some of its operations here even though it had exited the Southeast Asian market in 2018. Rival Lyft has also laid off staff because of plummeting demand.
But even as it makes efforts to cut costs, Uber is in talks to acquire Grubhub Inc., an purchase that would make Uber the dominant player USA food delivery market.
The Uber Eats food-delivery business has been a bright spot for the company, thanks to surging demand for takeout as restaurants have eliminated in-person dining.
A tie-up with Grubhub could lead to significant savings in a highly competitive industry, but has raised antitrust concerns among lawmakers.