Lyft confirms it is shedding 13% of its workforce in anticipation of recession | world

Shared car rental company with driver Lift On Friday, he confirmed that he would dismiss 13% of his employees, a move he justifies.Possible recession sometime next year.”

In a letter to employees reproduced today by many US media, President John Zimmer and CEO Logan Green They indicated that the layoffs, which they also attribute to the rise in insurance rates, will affect all departments, which total up to 5,000 employees.

The dismissal payment was already leaked last November to various media, in addition to the one the company made in May 2020, when it announced that it would not renew 1,000 jobs, while announcing a salary cut for all categories, including senior managers. ..

Also read: Uber rival Lyft posted its biggest drop after reporting a profit decline

After learning the e-mail from the managers, the company’s shares fell by 0.56%, but in the current year they lost 68% of their value, according to the CNBC portal.

Lift Thus, it became the countless tech company to announce job cuts, following the same path as Netflix, Spotify, Amazon, Alphabet, and Meta.

Source: EFE

Also read: Amazon and Lyft usher in a new era of tech austerity