https://twitter.com/mikeisaac/status/1255526802556104710?s=21 LYFT layoffs: 17 percent of workforce, or 982 employees furloughing 288 employees salary reductions: 30 percent cut for execs 20 percent for VPs 10 percent for all other employees board pay cut by 30 percent of *cash* comp for 2nd quarter
Shit
Glad that I did not join Lyft
Even with 30% cut lyft TC would still be higher than MSFT low-ball TC
@FB Atleast he is not part of 17% laid off...
What’s the severance package?
10 weeks, 6 months insurance, removed cliff and instant vest for the quarter
More for >4 yoe
The salary cut for executives and for other employees is BS. Most execs primarily make money of equity.
That’s the point homie.
What’s even more fucked up is, stock goes up due to this news. Which results in execs earning more money than before. What. The. Actual. Fuck.