Weak Coffee, Vanishing Perks, and Falling Morale: The New Uber

Weak Coffee, Vanishing Perks, and Falling Morale: The New Uber
AP Photo/Eric Risberg, File

Tech IPOs have long been viewed as a boon for Silicon Valley workers, ushering in a new era of corporate stability and stock-driven wealth. That's not been the case at Uber, where the stock price has fallen roughly 30 percent since going public in May and employees say they've noticed cuts to amenities as basic as the brands of coffee available for brewing. Uber is changing as it shifts from a closely held unicorn start-up to a publicly traded company that appears to be losing investors' confidence, according to interviews with current and former workers. Those changes include laying off more than 800 workers over the summer.

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