Uber Technologies Inc. UBER will cut about 200 recruiters in order to save costs, the Wall Street Journal reported Wednesday, citing an internal company memo. While the layoffs affect about 35% of the company’s recruitment team, they account for less than 1% of Uber’s headcount, the Journal reported. Uber shares were down less than 0.1% in recent activity.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.