The Clap
Lyft (NASDAQ: LYFT) intends to cut its workforce by 13%, with fears of a recession looming.
The Deets
The layoffs come as part of a major cost-cutting measure taken by the company to save more and reduce management layers.
The company promised to continue to support laid-off workers by providing them with several compensations. Including 10 weeks of pay.
So What
Several tech companies announced layoffs and hiring freezes throughout the year, given the macroeconomic pressures faced by the company.
In 2023, the company aims to have improved its ability of the company to mitigate risk.
