The cuts are coming just days after new CEO David Risher began steering the ride-hailing service with a eye of driving down costs as part of an effort to bring its fares more in line with its biggest rival, Uber.
SAN FRANCISCO — Lyft is preparing to lay off hundreds of employees just days after new CEO David Risher began steering the ride-hailing service with a eye of driving down costs to help bring its fares more in line with its biggest rival, Uber.
San Francisco-based Lyft declined to provide additional details Friday, but said more information will be released next week. “We need to bring our costs down to deliver affordable rides, compelling earnings for drivers, and profitable growth,” Risher wrote.
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