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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

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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.

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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

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