Lyft to Lay Off 982 Workers, Cut Salaries Due to Virus Outbreak, Lyft said Wednesday it intends to shed about a thousand workers to help the ride-sharing meeting to put up with the pandemic’s hit to its business.
The San Francisco group said it would decrease its payrolls by 17 percent – around 982 individuals – and leave of absence another 288 specialists.
The activity cuts are a piece of a rebuilding intend to reduce costs “considering the continuous monetary difficulties coming about because of the COVID-19 pandemic and its effect on the organization’s business,” Lyft said in a documenting with the Securities and Exchange Commission.
Lyft expected to spend as much as $36 million (generally Rs. 270 crores) on rebuilding costs including worker pay and the shutdown of certain offices, as indicated by the documenting.
Lyft is briefly cutting base compensation for residual representatives, including top officials, the announcement said.
It stays unclear when, or if, ways of life will come back to when individuals will by and by feel great jumping in vehicles with outsiders for shared rides from Lyft or Uber drivers.
Offers in Lyft rose on the news, as financial specialists thought about the updates on more changes in the monetary scene because of the pandemic.
Uber, Lyft, and other “sharing economy” stars have an unpleasant street ahead given how the pandemic is evolving ways of life, Global Equities Research examiner Trip Chowdhry fought in a note to speculators.
“Covid-19 has given another hit to the entire idea of ‘Shared Economy’,” Chowdhry said.
“Fundamentally, ‘share and get contaminated.'”
Both Lyft and its bigger adversary Uber have been fighting endeavors in various purviews to group its drivers as workers rather than self employed entities.
Cardi B’s new single featuring kanye West and Lil Durk is here Belcalis Marlenis Almánzar, known professionally as Cardi B, is an American rapper and songwriter. She is known for her aggressive flow and candid lyrics. Born and raised in New York City, she became an internet celebrity by achieving popularity on Vine and Instagram. […]
A mother was fatally shot in the head while pushing a stroller on upper East side A 20-year-old woman was fatally shot on Wednesday night by a hooded gunman while she was pushing her 3-month-old child in a stroller on the Upper East Side, officials said. Another bleak episode in a wave of gun violence […]
Ghislaine Maxwell sentenced to 20 years in prison Ghislaine Noelle Marion Maxwell is a British former socialite and convicted sex offender. She was found guilty in 2021 of child sex trafficking and other offences in connection with the financier and convicted sex offender Jeffrey Epstein, and was sentenced to 20 years in prison on 28 […]
Protest break out in US after Supreme court overturns Roe V. Wade Roe v. Wade, was a landmark decision of the U.S. Supreme Court in which the Court ruled that the Constitution of the United States generally protects a pregnant woman’s liberty to choose to have an abortion. The decision, which struck down many U.S. […]
Rapper Lil Tjay is undergoing emergency surgery after being shot Tione Jayden Merritt, known professionally as Lil Tjay, is an American rapper and singer. He rose to prominence in 2018 with his song “Resume,” and signed to Columbia Records later that year. His stage name is derived from the first letter of his first name […]
15yr old shot dead,3people including a police officer injured in D.C shooting A 15year old has been killed and three people, including a police officer, have been injured in a shooting in Washington D.C, according to the D.C police department. They were shot when gunfire erupted Sunday night at an unauthorized music event in a […]
Drake drops surprise album Honestly, Nevermind Aubrey Drake Graham is a Canadian rapper, singer, and actor. An influential figure in modern popular music, Drake has been credited for popularizing singing and R&B sensibilities in hip hop. Gaining recognition by starring as Jimmy Brooks in the CTV teen drama series Degrassi: The Next Generation (2001–08), Drake […]
Dr. Anthony Fauci has tested positive for COVID-19 Anthony Stephen Fauci MD, OMRI is an American physician-scientist and immunologist serving as the director of the National Institute of Allergy and Infectious Diseases and the Chief Medical Advisor to the President. As a physician with the National Institutes of Health (NIH), Fauci has served the American […]
Warriors star Stephen Curry suffers foot injury in Game 3 of NBA finals Wardell Stephen “Steph” Curry was born March 14, 1988. He is an American professional basketball player for the Golden State Warriors of the National Basketball Association (NBA). Widely regarded as one of the greatest basketball players of all time, and as the […]
Allegations have surfaced against actor Ezra Miller Ezra Matthew Miller is an American actor. Miller’s feature film debut was in Afterschool, which they followed by starring as the title character in the drama We Need to Talk About Kevin and in the film adaptation of The Perks of Being a Wallflower. In 2015, Miller co-starred […]
NIGERIA ELECTIONS : Latest updates and analysis from primary parties Political parties in Nigeria are holding primary elections ahead of 2023 General elections until June 9. Eligible delegates are expected to participate in direct and indirect primary elections for the nomination of party candidate for state and federal elected positions. The official presidential and national […]
Neve Campbell won’t be back for “scream 6” due to failed Salary Negotiations Neve Adrianne Campbell is a Canadian actress. Campbell is recognized for her work in the drama and horror genres, and is regarded as a sex symbol and scream queen. She has appeared on People magazine’s list of “50 Most Beautiful People” twice. […]
Privacy & Cookies Policy
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.