Stefan Mileschin

Uber is planning on tightening the purse strings this year. In an email to employees shared with CNBC, the ride-hailing firm’s CEO Dara Khosrowshahi said the company would cut back on spending amidst a “seismic shift” in investor sentiment. First up on the chopping block are marketing and incentives, also known as Uber’s various perks for customers and drivers that include sign-up bonuses and ride discounts. Although Khosrowshahi didn’t mention lay-offs in the e-mail, he made clear that any new hiring at the company would be treated as "a privilege."

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