Google-owned mobility startup Waze is reportedly laying off more than 5% of its total workforce as roads empty out during the pandemic
Wazeis laying off more than 5% of its total workforce as a result of the coronaviruspandemic, The Verge reported Wednesday.
- Waze CEO Noam Bardin told employees in a memo that the company is refocusing on "product improvements," "technical infrastructure," and sales and marketing in "a small number of high-value countries," according to The Verge.
- The company will also shutter offices in Asia and Latin America, The Verge reported.
- Waze, like other navigation and
ridesharecompanies, has seen a dramatic drop in users during the coronavirus pandemic as people stay home and avoid unnecessarily sharing public spaces.
Waze, the Google-owned navigation app and carpool service, is laying off 30 employees — more than 5% of its total 555 person workforce — and shutting some offices as it reels from the coronavirus, The Verge reported Wednesday.
In a memo to employees, CEO Noam Bardin said that travel restrictions in place around the world had led to a "significant drop" in the number of miles people are driving while using the app, trips taken via its carpool service, and ad revenue, according to The Verge.
"This has forced us to rethink priorities, and we've decided to focus our resources on product improvements for our users, accelerate our investments in technical infrastructure, and refocus our sales and marketing efforts on a small number of high-value countries," Bardin said, according to The Verge.
Waze did not immediately respond to a request for comment on this story.
Bardin reportedly told employees that jobs would be cut across Waze's ad sales, partnerships, and marketing teams, and that the company would be closing sales offices in Singapore, Indonesia, the Philippines, Malaysia, Colombia, Argentina, and Chile.
Employees being let go will be "taken care of [financially] through early 2021 and will be eligible for year-end bonuses," as well as continue to receive "as many continued [healthcare] benefits as possible" and assistance finding jobs either at
The company is far from alone. Other mobility and rideshare services, such as Uber and Lyft have been forced to lay off substantial numbers of employees as remote work policies and shelter-in-place requirements have slowed the number of trips people are taking.
- Rupee gains 10 paise to close at 82.28 against US dollar
- Sensex, Nifty50 log declines to close the week in red – IT, PSU banks and energy stocks drag
- Over 1.83 lakh Indians renounced their citizenship till October says external affairs ministry
- BharatPe files arbitration to claw back co-founder Ashneer Grover's unvested 1.4% shares
- Two Adani Group companies rule as the top all-round wealth creators – here are a few other unexpected entries