Globally, the world has been hit with a dire phenomenon that, even, the best brains in the world, never fathomed that, it will be on a large scale, affecting daily interactions between humans, all over the world.
The novel coronavirus has adversely affected the business world, with some top organisations across the globe, hit hard and this has forced some top business organisations to downsize.
Investors are always on the lookout, for their revenue, which at this time, is really difficult to get, due to the ravaging effects of the coronavirus that has grounded the business world.
Some few days back, Airbnb laid off 25% of its workforce, as the company could not muster the financial strength, to keep paying all their staff.
Lyft laid off 982 staff, which represented 17% of its workforce, in its bid to, also, cut cost and just a few hours ago, Uber announced that, it will be letting go, of some of its staff, in its bid to ensure that, the company still remains afloat, as there has been a massive drop, in its revenues.
According to the official report, Uber Chief Executive Officer, Dara Khosrowshahi, will have to let go his base salary, till next year, just as the company will, also, be cutting down, on an estimated 3,700 job and it is all due, to the ravaging effects of coronavirus that has crippled the world economy.
Some businesses, all over the world, have been hit hard and the only way to survive this period, is to let go some of their staff, cut down on operational costs and also, let go of some of their other ventures that are less profitable, which is one of the reasons, why Uber pulled out UberEats, from some smaller markets, across 8 countries in the world.
Featured Image: Labgov.city
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