Lyft laying off 13% of staff

Re:Lyft laying off 13% of staff by spaceman_2020 on Thursday November 03, 2022 @12:48PM (#33453803)

I don’t see any mass layoffs among manufacturers, commodities producers, and energy companies

More like a long overdue correction in tech.

Some of these businesses have been around for nearly 15 years and haven’t had a single year of consistent profits. It was about time that markets humbled them.

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Re:Lyft laying off 13% of staff by WillPostForFood on Thursday November 03, 2022 @12:58PM (#33453944)

There were huge layoffs in energy throughout 2020 and 2021, and while employment levels have been increasing, they are still far below 2019 levels. The correction has already happened in energy, triggered by COVID shutdowns, so they don't need to happen again now (hopefully).

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Re:Lyft laying off 13% of staff by gitfan86 on Thursday November 03, 2022 @01:00PM (#33453972)

Yes, tech businesses built up a lot of unnecessary employees during the boom and didn't want to have layoffs for morale and PR reasons.

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Re:Lyft laying off 13% of staff by Workaccount2 on Thursday November 03, 2022 @01:38PM (#33454594)

Tech work went from deathly 60-80hr work weeks, to comfy WFH jobs where you can skate by on 2 hours of work a day.

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