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Gig economy companies cut thousands of jobs - Millennials will need to turn to Bank of Mum & Dad

Gig economy companies cut thousands of jobs - Millennials will need to turn to Bank of Mum & Dad

The economic fallout from the coronavirus takes it’s toll with major tech firms announcing  massive  layoffs

Uber, Lyft and Airbnb cut thousands of jobs as pandemic batters Silicon Valley

The economic fallout from the coronavirus has come to Silicon Valley, with major tech firms announcing layoffs in recent weeks.

On Wednesday, Uber became the latest company to announce cuts, revealing in a filing to the Securities and Exchange Commission that it will lay off 3,700 workers – roughly 14% of its global workforce.

Uber cited the pandemic in its filing, saying Covid-19 had affected its entire business, including financial performance, investments in new products, ability to attract drivers, and corporate strategy.

Uber’s announcement came after several other tech companies said they were making cuts amid the crisis.

Tim K. Dean, Credi Founder | Commentator & Expert on Family Lending, Bank of Mum & Dad and Neo-Credit Scores is available for media interviews and appearances. More…

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