Uber is laying off 14% of staff due to COVID-19, Lyft says its biz is down 70%

COVID-19 is having an obvious negative impact on the ride-hailing industry, with Uber and Lyft reporting huge losses.

Uber has announced it's being forced to cut 3,700 employees amid the crisis, accounting for around 14 percent of its workforce. The redundancies will predominantly hit Uber's recruiting and CommOps teams. 

“With people taking fewer trips, the unfortunate reality is that there isn’t enough work for many of our front-line customer support...