Lyft, Deloitte announce layoffs amid global meltdown

• Deloitte reportedly told its staff that it will cut around 1,200 jobs in the US.
• The job cuts at Deloitte will cut 3 percent of total workforce at its Risk and Financial Advisory division.
• Later on Friday, ride-hailing firm Lyft announced to significantly reduce the size of the team.

San Francisco, More layoffs were announced this week as global financial consulting firm Deloitte reportedly told its staff that it will cut around 1,200 jobs in the US.

According to a report in the Financial Times, the job cuts at Deloitte will cut 3 per cent of total workforce at its Risk and Financial Advisory division.

Later on Friday, ride-hailing firm Lyft announced to significantly reduce the size of the team "as part of a restructuring to focus on better meeting the needs of riders and drivers".

According to reports, the layoffs at Uber rival may affect 30 per cent of its 4,000 employees.

"I own this decision, and understand that it comes at an enormous cost. We're not just talking about team members; we're talking about relationships with people who've worked (and played) together, sometimes for years," said Lyft CEO David Risher.

Those impacted will get at least 10 weeks of pay, with additional weeks for team members with more than 4 years with Lyft.

The fresh Lyft layoffs will happen on April 27. The company laid off 13 per cent of its staff in November last year.

"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," said the CEO.

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