Here’s some palatable news for the corporate ecosystem. One of India’s leading private ride providers, Uber is fine-tuning its hiring process to empower its engineering arm. The company has lost a significant amount of talent due to attrition lately. Meanwhile, there have been massive layoffs during the pandemic in May 2020. After the exercise, Uber is planning to add some quality to the existing apparatus while managing the crucial engineering department. Thus, a fresh demand for hiring 200 engineers from India has been called for. The news has positively influenced Uber stock trading figures.
An attempt to reclaim a fair share
The May layoffs have impacted the company’s operational strength, significantly. While reportedly, many experienced engineers moved on from Uber to join projects in other tech firms. This led to a massive talent drain in the company- and the company is now all geared up to restore it.
With the new hiring initiative, Uber’s expansion plans are likely to reenergize and help make customer delivery more accessible, as well as impeccable. To add more to this matter, the private ride provider, in a bid to cut costs, has been looking for India engineers.
Uber wishes to do more with the hiring round
For this Uber is investing in human resources, to begin with. The company is putting in efforts to reconstruct teams, which will work on the company’s strategic plans for a business like Uber marketplace, and U4B or Uber for business. The US rider provider wants to pump up its Bangalore and Hyderabad based engineering teams.
To beef product innovation and development, the company is now focusing on hiring. Around 140 plus engineers will work on products such as marketplace, rider and driver aspect, digital payments, safety, risk, and compliance factors. Engineering team opening pertaining to Maps Intelligence, Rider Data Platform, Data Engineering, Frontend Engineering, and Backend Engineering Architecture have already been floated in India.
Uber has plans
The company has also appointed Mr. Jayaram Valliyur as Global head of finance technology, who has experience in leading teams and various fin-tech initiatives. All this and more is sending positives vibes to Uber stock trading numbers.
Uber is completely focused on technology-led initiatives right now. From hunting for technology-driven engineers to contemplating new avenues for growth, Uber has planned to expand with the help of AI tech.
- Amid the pandemic, it has invested in mask recognition tech to ensure safety during the pandemic.
- There’s an increasing push for digital payment system. Uber’s engineering teams are busy producing methods to safeguard customers from getting affected by Covid.
- The company has already started its food marketplace (Uber Eats) and ensures a hassle-free delivery mechanism to escalate revenues.
Meanwhile, Mr. Jayaram Valliyur, as Global head of finance technology in Uber revealed that the hiring of engineers will enable the company with some product-driven engineering talent. This step will reap rewards for the long term and help Uber expand its market share. There have generous investments in formulating product initiatives based on AI and ML.
Uber takes several rounds of interviews before hiring. A candidate has to go through a telephonic interview conversation, problem-solving/analytical thinking test/writing test, panel-based interview, and final presentation rounds for selection.
Uber’s business model
Uber was founded in 2009 in California, United States. The company has revolutionized private cab hiring across countries, around the globe. It is one of the fastest-growing companies in the world with XX billion worth. Uber has ventured into food delivery (Uber Eats), couriers, freight transportation, as well. And it is planning to join hands with electric bicycle and motor scooter company, Lime.
Uber has worked on several strategies and business models to stay competitive in the global markets.
- The company has not limited itself to list particular categories of cars for customers. It has been more than open to diverse car segments to offer cost-effective solutions to customers.
- Uber works on surge pricing, which increases the price of the ride during peak hours. This, in turn, helps the drivers reap benefits and benefits customers with numerous ride options.
- Uber also focuses on customer-centric initiatives. It has run Uber for kids and Uber for senior citizens, to provide additional value to its customer base.
- The company also spends significantly on incentivization programs for both, drivers and customers. The cab owners earn more with Uber, in comparison with competitors in the private ride market.
Uber Eats, Careem, and Zomato are the main subsidiaries of the firm. The company has posted annual revenue of USD 1414.7 crores, globally in 2019. Uber stock trading has performed well even during the pandemic, which has attracted investors’ interest like SoftBank. It has a strength of over 26000 global workforces.