Lyft, Stripe Issue Major Layoffs

Amazon announces hiring freeze

At a glance

  • Patrick Collison, CEO of the payment processing platform Stripe, announced that executives would be slashing employee headcount by roughly 14 percent due to “sparser startup funding.”
  • Thirteen percent of Lyft employees will be dismissed according to CEO Logan Green and President John Zimmer, based upon “deprioritized initiatives, an effort to reduce management layers, broader savings goals, and, in some cases, performance trajectory.”
  • Amazon Senior Vice President of People Experience and Technology Beth Galetti also told employees that the company would institute a freeze on incremental hires in the corporate workforce.

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