« Everything we do before a pandemic will seem alarmist. Everything we do after will seem inadequate. » – Michael Leavitt, Former Secretary of Health and Human Services
COVID-19 and the « New Normal »
In the mere weeks since we initiated our early response to COVID-19, this crisis has redefined what we once knew as “normal.” It has forced us to carry out decisions that we did not expect to make. It has made us rethink our strategies. In short, it has led us to uncharted territory.
Is this new journey challenging? Undoubtedly. But, it also gives me a tremendous amount of hope. The strength that I’ve witnessed, not just among the Lucid team, but within our entire global community, has left me humbled and grateful. I know that COVID-19 is leading us towards a new normal, which cannot be fully realized yet – but a future that we are taking actions to chart, shape and protect.
In times of uncertainty, we have found that consistency and confidence are vital to forging the path ahead. Lucid has been watching the COVID-19 pandemic unfold, and with each development, we have taken proactive steps to approach the future as thoughtfully and strategically as possible. Throughout this time, we have communicated regularly and had open, transparent dialogues with our employees, customers, partners and members of our connected ecosystem.
Decisions to Protect the Marketplace
In an effort to protect our Marketplace from the current global economic impact and what can be forecasted for the future, we have taken swift action. At the initiation of these actions, some may have seen them as premature – but each decision has been driven by our responsibility to maintain the stability and confidence of the Marketplace that our customers and partners rely on. And, ultimately, we believe it is important to make difficult moves early so that we can move forward steadily, leaving surprises in the past.
For these reasons, we took another crucial step toward securing the future of this ecosystem: last week, we made a reduction in our workforce. To say that this decision did not come easily is a profound understatement.
First, I want to reiterate that Lucid’s reduction in force is an adjustment we made due to the oncoming economic impacts of COVID-19. This decision was not based on employee performance or on Lucid’s financial performance, but rather with anticipation for what to expect, globally, in the future. As we tread this uncharted territory, preemptive measures are vitally important.
I also want to acknowledge the human impact of this decision. While a reduction in force was necessary to ensure Lucid’s resiliency, we know that those affected are left feeling anything but secure. With that in mind, we are providing our US employees with a more robust severance package than normal, continued benefits for three months, and ongoing support to all employees embarking on this new path.
The truth is, we’re all having to embrace a new normal in a post-COVID world – and Lucid is simply planning for that reality. We are bracing for the economic impact. And we are doing everything we can to position ourselves, our partners and the ecosystem for this new future.
I know one thing for certain: nothing can diminish the trust and goodwill that has been shown by our partners, customers, and employees over the last few weeks, both to Lucid and to me – even from employees who were included in the reduction in force. Not only will Lucid continue to earn that trust, but I will also be burning the midnight oil to earn it, personally.
Lastly, I am encouraged by the growing need for insights. Everything that we thought we knew and understood pre-COVID has been upended; the evolving crisis requires fast insight into what humans are thinking and how they are behaving. There will always be a need to develop strategies based on accurate research. As advertising spends are watched more closely, the demand for ad measurement will only increase. Lucid’s delivery of these outputs will continue to evolve, but we all know change is constant. The steps we have taken will ensure that Lucid continues to anticipate change, remain at the forefront of the future and further unite our industry as we face this together.
We all need each other now more than ever, so I stand committed to supporting our current and former employees, customers, and partners through these uncertain times.
Until we meet again,