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.
FILE - A Lyft ride-hailing vehicle is parked near Empower Field at Mile High in Denver on April 30, 2020. 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.
The note didn't specify how many people would be jettisoned, but The Wall Street Journal reported that at least 1,200 employees will be laid off. The report cited unidentified people familiar with the cost-cutting plans. Risher, who had been a Lyft board member before being recruited to replace co-founder Logan Green, cited expense control as one of his top priorities during a interview with The Associated Press shortly after his hiring was announced. By ensuring Lyft is “super efficient,” Risher said the company would be in a better position to lower its fares to lure back passengers who had shifted to using Uber more frequently because that service was offering lower prices for the same trips.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Lyft reportedly will sack a fourth of staff in new layoff roundLess than a month into his tenure as Lyft CEO, David Risher emailed employees saying the San Francisco-based ride-hailing giant will 'significantly reduce' its staff.
Read more »
Lyft to lay off 1,200 under new CEO, Wall Street Journal reports - AutoblogLyft is preparing to lay off 1,200 employees, the Wall Street Journal reports, just days after new CEO David Risher began work to drive down costs.
Read more »
Lyft to 'significantly' cut jobs in new CEO's first major moveLyft Inc CEO David Risher said on Friday the ride-hailing company will 'significantly' cut jobs in another round of layoffs to reduce costs, sending its shares up about 4%.
Read more »
LYFT Inc Stock Price Today | NASDAQ LYFT Live Ticker - Investing.comView today's LYFT Inc stock price and latest LYFT news and analysis. Create real-time notifications to follow any changes in the live stock price.
Read more »
Lyft gears up to make ‘significant’ layoffs under new CEOThe 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.
Read more »