Uber just made a new round of layoffs, some affecting its performance marketing team. This is the team involved with online marketing and advertising, including (presumably) targeted ad campaigns all over the web and social media. These layoffs mark the second time Uber has restructured some of its marketing operations.
For young, growth-oriented tech startups, I continue to believe this is only the beginning of many, many marketing-related job cuts to come over the next several years. The marketing spend at these companies has been extraordinary to help fuel high velocity growth, but it simply can’t be sustained forever.