In an announcement on Wednesday , the ride-share company Lyft said they were laying off close to 1,000 workers, while also furloughing over 200 employees during the COVID-19 pandemic.

Lyft said 982 employees, which makes up 17 percent of the company's workforce, would be laid off, and 288 workers would be furloughed.

Exempt employees, the company announced, will see a reduction in base salary beginning in May for 12 weeks.

The company added that the pay cuts would consist of a 30% reduction for executive leadership, 20% for vice presidents, and 10% for all other exempt employees.