Uber to open Chicago headquarters, slashes Uber-X rates

CHICAGO (WLS) -- Uber is opening its new Midwest headquarters in Chicago. The ride-sharing service projects big job growth over the next two years.

Uber said it will be adding several hundred new jobs by the end of 2016.

Meanwhile, Uber is slashing its fares for the Uber-X service in Chicago and several other cities. The company says it's cheaper to get a ride with Uber-X than in a regular taxi.

Right now, the rate cut is an experiment, but could become permanent.