Uber Scales Back Self-Driving Unit in Wake of Crash
*By Justin Chermol*
Uber is laying off more than 100 test drivers in its autonomous car division in Pittsburgh and San Francisco, replacing them with 55 highly-trained drivers known as "mission specialists".
It's an attempt by the ride-hailing company to prove it's serious about safety in its self-driving division after a fatal crash in Tempe, Ariz., last March.
But whether real progress has been made is another story.
"There's the public messaging and there is what is actually happening," said Mark Rechtin, Executive Editor at Motor Trend. "Uber is saying all the right things publicly, but the accident in Arizona has really set them back."
Uber initially suspended all testing of its autonomous driving program after a pedestrian was struck and killed on March 18, but restarted some tests earlier this month.
Former self-driving car operators are eligible to apply for the new roles, which must operate cars on both public roads and private tracks and are expected to give technical feedback to developers.
Rechtin is optimistic about the effort, but still raised concerns.
"We need to make sure whatever Uber does is something that is functional."
Pilots at American Airlines have voted to authorize a strike, and Southwest Airlines pilots are preparing to join them, as unions put more pressure on the airlines to approve new contracts with hefty pay raises.
Cheddar News takes a look at The Day Ahead as the Federal Reserve's two-day meeting kicks off on Tuesday while earnings season continues with some big-name companies such as Ford, Pfizer, Starbucks and Uber on tap to report quarterly results. The JOLTS report is also due to be released ahead of April job numbers.
Dan Geltrude, managing partner of Geltrude & Co., joined Cheddar News to discuss why it's vital for a college student to begin budget preparations early for college tuition. "It's developing good financial habits," he said. "I'm a strong proponent that in high school, there should be some teaching, some course ... about personal finance."
Brian Vendig, president of MJP Wealth Advisors, joined Cheddar News to discuss the market ahead of the Federal Reserve's meeting on Wednesday and as investors digest JPMorgan's takeover of First Republic Bank, which was recently seized by regulators. A slew of earnings are also slated to be released this week as well.
