Global site navigation

Local editions

US rideshare firm Lyft plans major staff cuts
Business and Economy

US rideshare firm Lyft plans major staff cuts

by  AFP 1 min read
A fresh round of layoffs announced at Lyft is intended to make the company "flatter" and save money to be used to keep drivers happy and fares competitive at the rideshare company that competes with Uber in North America
A fresh round of layoffs announced at Lyft is intended to make the company "flatter" and save money to be used to keep drivers happy and fares competitive at the rideshare company that competes with Uber in North America. Photo: Drew Angerer / GETTY IMAGES NORTH AMERICA/Getty Images via AFP
Source: AFP

PAY ATTENTION: Сheck out news that is picked exactly for YOU ➡️ click on “Recommended for you” and enjoy!

US rideshare service Lyft on Friday sent word to employees that it plans a major staffing reduction to cut costs.

"We need to be a faster, flatter company," Lyft chief executive David Risher said in an email posted at its website.

"We will significantly reduce the size of the team as part of a restructuring to focus on better meeting the needs of riders and drivers," he added.

Lyft will notify employees next week as to whether they still have jobs with the San Francisco-based company, which will keep all of its offices closed that day, Risher said.

Lyft plans to use money it saves to keep prices competitive, improve pick-up times, and give drivers better earnings, according to the chief executive.

Lyft is Uber's rival in North America.

Read also

Google stops work on big Silicon Valley campus: report

PAY ATTENTION: Share your outstanding story with our editors! Please reach us through info@corp.legit.ng!

Both companies were recovering from a ridership drop during the pandemic when a downturn in the broader economy forced painful belt tightening at internet firms.

Lyft already had a round of major layoffs late last year.

Source: AFP

Authors:
AFP avatar

AFP AFP text, photo, graphic, audio or video material shall not be published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium. AFP news material may not be stored in whole or in part in a computer or otherwise except for personal and non-commercial use. AFP will not be held liable for any delays, inaccuracies, errors or omissions in any AFP news material or in transmission or delivery of all or any part thereof or for any damages whatsoever. As a newswire service, AFP does not obtain releases from subjects, individuals, groups or entities contained in its photographs, videos, graphics or quoted in its texts. Further, no clearance is obtained from the owners of any trademarks or copyrighted materials whose marks and materials are included in AFP material. Therefore you will be solely responsible for obtaining any and all necessary releases from whatever individuals and/or entities necessary for any uses of AFP material.

Hot: