Uber is laying off 3,700 workers globally

Uber is laying off 3,700 employees globally, around 14 percent of its staff, the ride-sharing firm announced in a filing with the Securities and Exchange Commission on Wednesday.

The cuts will affect Uber’s recruiting and customer support teams, according to the filing.

The company said it was taking these steps in a bid to bring costs in line and protect the future of the business amid the coronavirus pandemic.

Uber chief executive Dara Khosrowshahi said he will also forgo his base salary for the rest of the year.

In 2019, Khosrowshahi made $1 million in base salary though most of his compensation came from stock awards and bonuses.

Global gross bookings fell 80 percent during the coronavirus pandemic, according to a recent report in The Information. Investors will get a deeper look into Uber’s business on Thursday when the company announces its earnings.