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Good morning from the newsroom of the Financial Times.

Today is Tuesday, July 30th. Good morning from the Newsroom of the Financial Times.

Today is Tuesday, July 30th, and this is your FT news briefing.

Monday saw hundreds of job cuts from Silicon Valley to Wall Street, and New Day of

job cuts from Silicon Valley to Wall Street.

And new data reveals that more than 2,000 Chinese-made security cameras

deemed a threat to national security are in place in US government buildings.

Plus the F.T.'s Hannah Cushler digs into the tie-up between Mylan and Pfizer's up joint unit

that will create a new farmer group with an enterprise value of about $50 billion.

I'm Mark Filipino and here's the news you need to start your day.

400 people lost their jobs at Uber on Monday. The RideHaling Service eliminated a third of its marketing staff as part of a corporate reorganization. The goal is to

centralize control and cut costs. Uber has 25,000 employees globally. Chief Executive

Dara Kaus reshahi emailed employees yesterday. He said, quote,

today there's a general sense that while we've grown fast, we've slowed down.

He also said teams are too big and work is overlapping, leading

to quote mediocre results. Uber has been under the microscope since it went public in May.

The IPO has raised questions over the ride-hailing business

model, and whether Uber can actually turn a profit.

Shares closed down at almost 1.5 percent on Monday to $43.88 each. That's below. It's $45 a share, IPO price.

And employees at Citigroup are facing a similar fate.

...