Published 6:28 PM EDT Sep 10, 2019

Struggling ride-hailing giant Uber gave layoff notices to over 400 employees Tuesday.

The company cites nearly 100 million users of its app but hasn't been able to turn a profit and in August reported a quarterly loss of $5.2 billion. 

"It’s critical we get our edge back and continually push ourselves to do better," Uber CEO Dara Khosrowshahi said in a company e-mail, which was obtained by the New York Times. 

Uber lays off 435 employees, after record $5.2 billion quarterly loss.

Tuesday's cuts were in product and engineering, while July saw another 400 cuts from the Uber marketing team. 

According to TechCrunch, Uber is laying off about 8% of the company, with 170 people from product, and 265 from engineering. Most of the layoffs were for U.S.-based employees. 

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Uber confirmed the layoffs and released a statement to TechCrunch. “Our hope with these changes is to reset and improve how we work day to day – ruthlessly prioritizing, and always holding ourselves accountable to a high bar of performance and agility. While certainly painful in the moment, especially for those directly affected, we believe that this will result in a much stronger technical organization, which going forward will continue to hire some of the very best talent around the world.”

Uber went public in May but hasn't had a successful go of it on Wall Street. The stock opened at $41.57 but has since fallen to $33.51 a share. 

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