Employees were informed via email that a ‘significant’ number would lose their jobs to cut costs and bring fares in line with Uber
The ride-hailing service Lyft is preparing to lay off hundreds of employees just days after its new CEO, David Risher, began steering the company with an eye toward driving down costs to help bring its fares more in line with its biggest rival,Risher, a former Amazon executive, informed Lyft’s workforce of more than 4,000 employees in an email posted online on Friday that a “significant” number of them will lose their jobs. The message came at the end of his first week as Lyft’s CEO.
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. “We need to bring our costs down to deliver affordable rides, compelling earnings for drivers, and profitable growth,” Risher wrote.
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