Lyft Is Laying Off , 13% of Its Workforce.
CNBC reports that the rideshare company made the announcement on Nov. 3.
In an email to staff, CEO Logan Green
and President John Zimmer referenced
"a probable recession sometime in the next year.".
In an email to staff, CEO Logan Green
and President John Zimmer referenced
"a probable recession sometime in the next year.".
Green and Zimmer said the job cuts
“were based on deprioritized initiatives, an effort to reduce management layers, broader savings goals, and,
in some cases, performance trajectory.”.
Those who are laid off will reportedly receive
ten weeks of pay and healthcare benefits through April.
CNBC reports that they have also been promised “accelerated equity vesting for the Nov. 20 vesting date” and help finding another job.
Those who've been with Lyft for at least four years will receive an additional four weeks of pay.
We are not immune to the realities of inflation and a slowing economy, Email from Green and Zimmer, via CNBC.
We need 2023 to be a period where we can better execute without having to change plans in response to external events — and the tough reality is that today’s actions set us up to do that, Email from Green and Zimmer, via CNBC.
We need 2023 to be a period where we can better execute without having to change plans in response to external events — and the tough reality is that today’s actions set us up to do that, Email from Green and Zimmer, via CNBC.
CNBC reports that other companies who have recently announced layoffs or hiring freezes include Netflix, Shopify, Coinbase, Spotify and more.
CNBC reports that other companies who have recently announced layoffs or hiring freezes include Netflix, Shopify, Coinbase, Spotify and more.
CNBC reports that other companies who have recently announced layoffs or hiring freezes include Netflix, Shopify, Coinbase, Spotify and more.
CNBC reports that other companies who have recently announced layoffs or hiring freezes include Netflix, Shopify, Coinbase, Spotify and more