Wall Street Journal:
Sources: Lyft plans to cut 13% of its 4,000 employees, after previously cutting 60 people, or under 2% of its workforce, in July — Ride-hailing company to cut 13% of staff in second round of job cuts — Lyft Inc. LYFT -0.43%decrease; red down pointing triangle is cutting 13% of staff …
Wall Street Journal:
Sources: Meta fired or disciplined more than 24 employees and contractors over the past year for allegedly taking over user accounts, sometimes for bribes — Some workers allegedly accepted thousands of dollars in bribes — Meta Platforms Inc. META -2.31%decrease; red down pointing triangle …
Will Feuer / Wall Street Journal:
Citing a weakened market, Micron says wafer production for DRAM and NAND memory chips will be down about 20% over the past quarter; Micron’s stock fall 5%+ — Company cites market conditions for softening demand — Micron MU -5.04%decrease; red down pointing triangle Technology Inc …
Theo Wayt / New York Post:
Lyft says it is freezing all hiring in the US through the end of 2022 — Ride-sharing app Lyft is freezing all hiring in the US through the end of 2022, The Post has learned. — The news comes amid a broader economic slump that has sent Lyft’s stock tumbling 68% this year.
Preetika Rana / Wall Street Journal:
Lyft reports Q3 revenue up 22% YoY to $1.05B, riders up 7% YoY to 20.31M, vs. 21.3M est., and a $422.2M net loss, up from $99.7M YoY; the stock drops 10%+ — The number of people using the ride-sharing app grew less than analysts had been predicting — Uber, Lyft and the Crucial Challenge for Profitability in 2022
Manish Singh / TechCrunch:
Indian edtech startup Unacademy cuts 350 jobs, or 10% of its workforce, in its second round of layoffs this year after cutting 1,000 roles in April 2022 — Unacademy has eliminated 10% of its workforce, or about 350 roles, in its second round of layoffs this year as the Indian edtech warns of harsh economic conditions.
Natasha Mascarenhas / TechCrunch:
Sources: BloomTech, previously Lambda School, is cutting half of staff, or an estimated 88 employees, its third round of known layoffs since the pandemic began — A little over a year after buzzy coding bootcamp Lambda School rebranded as Bloom Institute of Technology …
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