{"id":24212,"date":"2020-04-29T15:31:41","date_gmt":"2020-04-29T22:31:41","guid":{"rendered":"https:\/\/lapost.us\/?p=24212"},"modified":"2020-04-29T15:31:41","modified_gmt":"2020-04-29T22:31:41","slug":"lyft-cutting-nearly-1k-workers","status":"publish","type":"post","link":"https:\/\/lapost.us\/?p=24212","title":{"rendered":"Lyft cutting nearly 1K workers"},"content":{"rendered":"<p>Lyft is laying off nearly 1,000 workers and furloughing another 288 as the coronavirus pandemic slashes its business, the company announced in Wednesday.<\/p>\n<p>The 982 employees it will lay off account for 17 percent of the ride-sharing giant&#8217;s workforce, Lyft said in a regulatory filing.<\/p>\n<p>Lyft has also implemented base salary reductions for all other employees, as well as the 12-week-long furloughs.<\/p>\n<p>Lyft CEO Logan Green said in a statement to The Hill on Wednesday that the layoffs were a &#8220;difficult decision.&#8221;<\/p>\n<p>&#8220;Our guiding principle for decision-making right now is to ensure we emerge from the crisis in the strongest possible position to achieve the company\u2019s mission,&#8221; he said.<\/p>\n<p>The salary cuts will kick in May 1, and will include a 30 percent reduction for executive leadership, 20 percent for vice presidents and 10 percent for all other employees.<\/p>\n<p>The company said it expects to take an approximately $28 million to $36 million hit from restructuring and related charges from the layoffs, primarily related to employee severance and benefits.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lyft is laying off nearly 1,000&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":["post-24212","post","type-post","status-publish","format-standard","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts\/24212","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=24212"}],"version-history":[{"count":1,"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts\/24212\/revisions"}],"predecessor-version":[{"id":24213,"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts\/24212\/revisions\/24213"}],"wp:attachment":[{"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24212"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24212"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24212"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}