Uber Technologies Inc. (NYSE: UBER) announced the resignation of Chief Technology Officer Thuan Pham in a regulatory filing; Pham had joined the company in April 2013. In addition, The Verge reported on Tuesday that Uber executives were discussing a cost-cutting plan that could result in layoffs of 20% of the company’s employees, or about 5,400 workers. Lyft Inc. (NASDAQ: LYFT) also announced plans to lay off 17% of its workforce, institute furloughs and cut employee compensation.

Uber is most known for its human cloud, ride-sharing business and its Uber Eats operations. However, the San Francisco-based company also operates in the industrial contingent labor market in Chicago, Miami and Dallas through its Uber Works operations, through which it works with staffing firms.

The company plans to release earnings on May 7, but it has already withdrawn 2020 guidance for gross bookings, adjusted net revenue and adjusted EBITDA.

Meanwhile, Lyft said in a regulatory filing that it will lay off 17% of its workforce, or 982 employees. It also announced the furloughs of 288 employees and has reduced salaries for exempt employees still at the company for a 12-week period beginning next month. Executive leadership will see a 30% decrease under the plan, VPs will see a 20% decrease and all other exempt employees will see a 10% decrease. Directors have also agreed to forego 30% of their cash compensation.

Uber and Lyft aren’t the only large technology firms feeling the impact of Covid-19. Sundar Pichai, the CEO of Google parent company Alphabet, said the tech giant plans to slow the pace of hiring for the remainder of this year.

Alphabet first-quarter revenue was up 13% year over year to $41.2 billion but the company cited a significant slowdown in ad revenue in March.