About a quarter of Cruise's workforce was laid off a day after nine key leaders left the company amid an ongoing investigation into an October crash involving one of its driverless robotaxis.Note: This tracker is developing and will be updated. Companies marked with an asterisk* reflect the total estimated number of staff laid off from multiple rounds of job cuts year-to-date in 2022. The dates mark the latest layoff announcement for all companies.
This round of dismissals impact 2,753 jobs at the electric carmaker's Freemont gigafactory and Paolo Alto offices according to state filings. This bring the total estimated number of workers made redundant at Lyft to 1,806 or 34% of its workforce since mass layoffs at the ride-hailing company began in 2022., "We need to be a faster, flatter company where everyone is closer to our riders and drivers so we can deliver on this purpose. And we need to bring our costs down to deliver affordable rides, compelling earnings for drivers, and profitable growth.
"While our business continues to grow fast, given how quickly we hired, our operating expenses - if left unabated - would continue to outgrow our revenue," DoorDash CEO Tony Xu said in a The company will pay 14 weeks of severance for all departing employees, and more for those with longer tenure. Those departing will be paid until at least February 21, 2023.
"Since that time, we have seen additional deterioration of the macro environment, with inflation at 40-year highs accompanied by a broad crypto market crash. This has further reduced customer trading activity and assets under custody," he said.