Uber said Monday it would discontinue its Uber Eats restaurant delivery service in seven markets next month as part of a strategic shift for the ride-hailing service, which is struggling with a new economic landscape.

Food delivery will end in the Czech Republic, Egypt, Honduras, Romania, Saudi Arabia, Ukraine and Uruguay by June 4, according to a regulatory filing.

The changes do not affect Uber Rides operations in those countries.

Uber has been hit hard by the coronavirus pandemic, which has sharply reduced ride-hailing. The company has compensated in part with more deliveries of food and other supplies.

But Uber said the decisions to exit the seven markets were made as part of an "ongoing strategy to be in first or second position in all Eats markets by leaning into investment in some countries while exiting others."

The seven countries accounted for just one percent of Uber Eats bookings, according to the company, but four percent of its losses.

"Consistent with our stated strategy, we will look to reinvest these savings in priority markets where we expect a better return on investment," the filing said.

Uber, due to release its earnings this week, has said it has enough cash to ride out the economic slump from the pandemic with some $10 billion in "unrestricted" funds available.

Related Links
Farming Today - Suppliers and Technology

Tweet

Thanks for being here; We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain. With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords. Our news coverage takes time and effort to publish 365 days a year. If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor $5 Billed Once credit card or paypal		SpaceDaily Monthly Supporter $5 Billed Monthly paypal only

Honey bees face chronic paralysis pandemic in Britain
wWashington DC (UPI) May 01, 2020
The virus responsible for chronic bee paralysis is spreading rapidly among honey bee colonies in Britain, according to a new study. Between 2007 and 2017, scientists visited 24,000 beekeepers to survey the health of commercial bee colonies in England and Wales. In 2007, the disease was found only in Lincolnshire, a county in eastern England. Just ten years later, the virus had spread to 39 of 47 English and six of eight Welsh counties. Though the virus was isolated among just a handful o ... read more