# Lyft lays off 17% of workforce.



## observer (Dec 11, 2014)

https://www.cnbc.com/2020/04/29/lyft-lays-off-17percent-of-workforce-furloughs-hundreds-more.html


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## mbd (Aug 27, 2018)

observer said:


> https://www.cnbc.com/2020/04/29/lyft-lays-off-17percent-of-workforce-furloughs-hundreds-more.html


Part of 17% is the rental side, since Hertz is announcing bankruptcy.


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## goneubering (Aug 17, 2017)

mbd said:


> Part of 17% is the rental side, since Hertz is announcing bankruptcy.


Maybe. Bk isn't the end of Hertz.


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## 25rides7daysaweek (Nov 20, 2017)

Apparently they need drivers...


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## Mole (Mar 9, 2017)

Why drive when you can get a government check that pays more?


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## Don'tchasethesurge (Dec 27, 2016)

Oh rohit..... guess he will be back to scamming


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## Jo3030 (Jan 2, 2016)

Yikes McGee:

From:
https://www.fool.com/investing/2020/04/29/uber-lyft-gear-up-to-layoff-hundreds-of-workers-am.aspx
In addition to furloughing employees, Lyft is reducing the base salary for employees for a twelve-week period starting in May. Executives will see their salaries reduced by 30%, vice presidents will get a 20% cut, and all other employees will lose 10% of their salaries. Board members are forgoing 30% of their cash compensation during the second quarter, Lyft said in the filing. Lyft expects to take a $28 million to $36 million charge, most of it in the second quarter, as a result of the restructuring.

Meanwhile, _The Information _reports that Uber is mulling cutting 20% of its workforce due to the pandemic. If that happens it could amount to as many as 5,400 Uber employees losing their jobs. The plan hasn't been finalized but if Uber moves ahead, the company is expected to conduct the layoffs in stages rather than at one time. According to _The Information_, Uber is seeing an 80% decline in its business amid the pandemic. Earlier this month Uber withdrew its guidance for 2020 because of COVID-19 uncertainty.

Separately, in an SEC filing, Uber announced that its Chief Technology Officer Thuan Pham, the longest-serving executive at the ride-hailing company, is resigning effective May 16. Pham said he was comfortable leaving now because the engineering team is at "peak productivity." Pham's group could see workforce reductions of close to 800.


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## Amos69 (May 17, 2019)

Boeing is laying off / reducing 20% of their workforce this year.


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## tohunt4me (Nov 23, 2015)

observer said:


> https://www.cnbc.com/2020/04/29/lyft-lays-off-17percent-of-workforce-furloughs-hundreds-more.html


THINGS WILL BE TOUGH ALL OVER.


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## Amos69 (May 17, 2019)

tohunt4me said:


> THINGS WILL BE TOUGH ALL OVER.


I do not think people realize exactly how bad it is going to be.


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## tohunt4me (Nov 23, 2015)

Amos69 said:


> I do not think people realize exactly how bad it is going to be.


Ive been through it Twice.
This will be the THIRD DAMN TIME !

LOUISIANA WILL BE WORSE DUE TO OIL PRICES.

MY POOR KIDS ARE SCREWED !



Amos69 said:


> I do not think people realize exactly how bad it is going to be.


IT IS ONLY JUST BEGINNING.


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## Mkang14 (Jun 29, 2019)

If God forbid I get laid off, I finally get to cash out 240 vacation hours. Sitting maxed out. Since I haven't used them, I'm loosing them.

Been at my job for over 12 years would also be incredibly sad.


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## Amos69 (May 17, 2019)

Everyone should be creating a futures tree. A look into- where you want to be in 10 -20 years and paths that will lead there. Get creative and be realistic. Fill out all the things that will hinder you and try to suss out the things that will help you. Everyone has a myriad of tools that they let languish because of this prosperous period we are leaving.


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## IthurstwhenIP (Jan 12, 2018)

Karma would be laid off corporate Lyft and Uber prof. Having to drive to get back after layoff


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## observer (Dec 11, 2014)

Amos69 said:


> Boeing is laying off / reducing 20% of their workforce this year.


I'm sure it's just the beginning.

It's going to suck for a LONG time.



Mkang14 said:


> If God forbid I get laid off, I finally get to cash out 240 vacation hours. Sitting maxed out. Since I haven't used them, I'm loosing them.
> 
> Been at my job for over 12 years would also be incredibly sad.


When I was laid off I lost about 25K in vacation pay.



Amos69 said:


> Everyone should be creating a futures tree. A look into- where you went to be in 10 -20 years and paths that will lead there. Get creative and be realistic. Fill out all the things that will hinder you and try to suss out the things that will help you. Everyone has a myriad of tools that they let languish because of this prosperous period we are leaving.


Couldn't agree more.

We always have to be looking ahead a few years. Make hay for when the sun isn't shining.

We are resilient and it will make us stronger and wiser.


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## tohunt4me (Nov 23, 2015)

observer said:


> I'm sure it's just the beginning.
> 
> It's going to suck for a LONG time.
> 
> ...


Or
OLDER & POORER !


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## observer (Dec 11, 2014)

tohunt4me said:


> Or
> OLDER & POORER !


Older maybe. Poorer, possibly but things change, needs change.

Life is a constant change and that's what makes life exciting.

Out with the old and in with the new.


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## Amos69 (May 17, 2019)

Everything changes. EVERYTHING CHANGES!!! Learning to accept that and use it to your benefit is the separator that affects successful negotiation of that change.


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## Mkang14 (Jun 29, 2019)

observer said:


> When I was laid off I lost about 25K in vacation


&#129318;‍♀ That's so messed up. Can't believe they were able to get away with that. How long did you work there?


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## observer (Dec 11, 2014)

Mkang14 said:


> &#129318;‍♀ That's so messed up. Can't believe they were able to get away with that. How long did you work there?


Twenty three years.

It wasn't that bad. They paid for four weeks, all expenses paid "working vacations" in Mexico for many years. Vehicle, insurance, restaurants, hotels, salary etc..

Plus I had all that here as well. To me there is no difference between work and play. If I'm awake, I'm thinking of how to make money. But to me money isn't my prime objective, I love figuring out how to build businesses. Money is a side product.

I could have fought them and won because in CA you need to have a written vacation request to prove vacation was taken and I knew they didn't have them because I never requested the time off. It was up to them to prove I had taken time off.

When you are laid off or fired your whole pay has to be given to you upon termination or you can also sue for an another 30 days pay.

I weighed the good and the bad of my time there and the good outweighed the bad in multiples.

I was and am very appreciative of the time I worked there. I was given a LOT of freedom to make mistakes and learn.

If the original owners asked me to work for them (they're no longer at the company) I would do so in a heartbeat.

The new company, not so much.


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## Jo3030 (Jan 2, 2016)

Mkang14 said:


> If God forbid I get laid off, I finally get to cash out 240 vacation hours. Sitting maxed out. Since I haven't used them, I'm loosing them.
> 
> Been at my job for over 12 years would also be incredibly sad.


You may want to take some PTO.


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## ANT 7 (Oct 14, 2018)

https://www.sec.gov/ix?doc=/Archives/edgar/data/1759509/000119312520125193/d848949d8k.htm
The link is the Lyft SEC filing.


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## Mkang14 (Jun 29, 2019)

Jo3030 said:


> You may want to take some PTO.


I had planned to take a few weeks off in march and then Corona happend.

Right now WFH and most days work is really slow. So really no point. Plus requesting time off during the pandemic feels wrong. Not sure why &#129300;


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## Jo3030 (Jan 2, 2016)

Mkang14 said:


> I had planned to take a few weeks off in march and then Corona happend.
> 
> Right now WFH and most days work is really slow. So really no point. Plus requesting time off during the pandemic feels wrong. Not sure why &#129300;


Disconnect.
It is good for the soul.


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## Kurt Halfyard (Dec 13, 2017)

As a personal point. I take the maximum vacation my job offers. Every year. There is even a programme at my place-of-work for employees give back 10 days worth of my salary, and get an extra 2 weeks Vacay. I make use of it every year. I like my 7 weeks vacation. I think it makes me a more well rounded person.


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## The Mick (May 1, 2020)

Amos69 said:


> I do not think people realize exactly how bad it is going to be.


I do, but all you have to do is watch the stock market, As unemployment rate goes up, the stock market follows it, I figure by the time the unemployment rate hits 25-30% The stock Market will be at all time highs.


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## Buck-a-mile (Nov 2, 2019)

Amos69 said:


> Boeing is laying off / reducing 20% of their workforce this year.


Are you going to get in an airplane anytime soon?

Me neither.


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## Amos69 (May 17, 2019)

Buck-a-mile said:


> Are you going to get in an airplane anytime soon?
> 
> Me neither.


A blast from the past!

YES and yes

And yes and yes again


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## TemptingFate (May 2, 2019)

The Mick said:


> I do, but all you have to do is watch the stock market, As unemployment rate goes up, the stock market follows it, I figure by the time the unemployment rate hits 25-30% The stock Market will be at all time highs.


That used to be true because the Fed would lower interest rates to stimulate the economy and reduce unemployment. Lower interest rates made borrowing money easier so stocks would go up. Now interest rates are rock bottom. Cant go lower unless they go negative. The Fed has pumped in $4 trillion for liquidity during this crisis. That's propped up the market during this Covid19 rally. Now what? Millions of people are unemployed, businesses are losing money and shutting down. This is much worse than 2000 dotcom crash or even the 2008 mortgage crisis crash. This rivals the Great Depression in unemployment and economic destruction. The pain will be felt for years.


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## The Mick (May 1, 2020)

TemptingFate said:


> That used to be true because the Fed would lower interest rates to stimulate the economy and reduce unemployment. Lower interest rates made borrowing money easier so stocks would go up. Now interest rates are rock bottom. Cant go lower unless they go negative. The Fed has pumped in $4 trillion for liquidity during this crisis. That's propped up the market during this Covid19 rally. Now what? Millions of people are unemployed, businesses are losing money and shutting down. This is much worse than 2000 dotcom crash or even the 2008 mortgage crisis crash. This rivals the Great Depression in unemployment and economic destruction. The pain will be felt for years.


did you read what i wrote? I'm basically saying that i could see the stock Market at all time Highs, even when we hit depression unemployment rates. June 5,2020 unemployment #'s will be over 20% But for the avg joe blow, the next 2 yrs are gonna be brutal,i wish the media would do a story on people waiting on lines for food every day,GL, right now? this is 2007-2009 on steroids, and it'll be a slow crawl back


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## Lute Byrt (Feb 20, 2020)

Amos69 said:


> Boeing is laying off / reducing 20% of their workforce this year.


https://www.google.com/amp/s/www.marketwatch.com/amp/story/guid/96F19526-3356-11EA-817D-4F1375C8A0DA
I wonder if it was things like this that were part of the problem?


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## The Mick (May 1, 2020)

Lute Byrt said:


> https://www.google.com/amp/s/www.marketwatch.com/amp/story/guid/96F19526-3356-11EA-817D-4F1375C8A0DA
> I wonder if it was things like this that were part of the problem?


Domestic air travel in US is dead in the water,international travel?whats that? gonna be a long hot summer


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## Vishnu643 (Aug 23, 2017)

25rides7daysaweek said:


> Apparently they need drivers...
> View attachment 454878


Drivers aren't employees. Employees are people who work in the office


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