Lyft and Laying Off Employees

As of April 29, Lyft is set to lay of 17% of its workforce (982 employees) as a cost-saving measure in the context of severe economic downturn and decrease in demand for rides. Such significant measures are indicative of the harsh economic conditions to come, as companies such as Lyft and Uber must make challenging decisions in laying off large proportions of their workforces. The harsh conditions continue a trend of downturn having begun from the first apparitions and spread of coronavirus in major U.S. cities.

Source:

https://www.npr.org/sections/coronavirus-live-updates/2020/04/29/847904818/lyft-lays-off-nearly-1-000-employees-as-virus-saps-demand-for-rides?utm_campaign=npr&utm_medium=social&utm_term=nprnews&utm_source=twitter.com

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