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{"id":29742,"date":"2023-04-21T21:44:37","date_gmt":"2023-04-21T21:44:37","guid":{"rendered":"https:\/\/scienceandnerds.com\/2023\/04\/21\/lyft-to-make-significant-cuts-across-ride-hailing-company\/"},"modified":"2023-04-21T21:44:37","modified_gmt":"2023-04-21T21:44:37","slug":"lyft-to-make-significant-cuts-across-ride-hailing-company","status":"publish","type":"post","link":"https:\/\/scienceandnerds.com\/2023\/04\/21\/lyft-to-make-significant-cuts-across-ride-hailing-company\/","title":{"rendered":"Lyft to make \u2018significant\u2019 cuts across ride-hailing company"},"content":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/04\/21\/lyft-to-make-significant-cuts-across-ride-hailing-company\/<\/a><\/br>
\nLyft to make \u2018significant\u2019 cuts across ride-hailing company<\/br>
\n2023-04-21 21:44:37<\/br><\/p>\n

\n
\n\t\t\t\n\t\t<\/div>\n<\/p><\/div>\n
\n

Lyft\u2019s newly appointed CEO David Risher told employees in an email<\/a> Friday that the company is significantly reducing its workforce as part of a restructuring effort.<\/p>\n

Risher said the restructuring is part of Lyft\u2019s plan to \u201cbetter meeting the needs of riders and drivers.\u201d The company confirmed that it has not changed its guidance for the first quarter in spite of the upcoming layoffs.<\/p>\n

What\u2019s less clear is how this might affect programs outside of ride-hailing such as its bike-sharing service.<\/p>\n

Lyft doesn\u2019t employ drivers who use the ride-hailing app to pick up and drop off riders. Instead, the layoffs will be directed at the company\u2019s more than 4,000 full-time employees. Employees will learn whether they have a job or not via an email that will be sent out April 27.<\/p>\n

Lyft wouldn\u2019t disclose the number of people who will be cut. A WSJ report<\/a>, citing unnamed sources, said about 1,200 workers, 30% of its total workforce, would be affected.<\/p>\n

Risher, a former retail executive at Amazon, took over the CEO position<\/a> at Lyft after co-founders Logan Green and John Zimmer stepped down last month.<\/p>\n

Risher explained in the email that he made the decision to help the company achieve its two core purposes.<\/p>\n

\n

\u201cLyft has two purposes that are linked to each other: We help riders get out and about so they can live their lives together, and we provide drivers a way to work that gives them control over their time and money,\u201d he wrote.<\/span><\/p>\n<\/blockquote>\n

\n
\n

\u201cWe need to be a faster, flatter company where everyone is closer to our riders and drivers so we can deliver on this purpose,\u201d\u00a0 And we need to bring our costs down to deliver affordable rides, compelling earnings for drivers, and profitable growth. We intend to use these savings to invest in competitive pricing, faster pick-up times, and better driver earnings. All of these require us to reduce our size and restructure how we\u2019re organized.<\/span><\/p>\n<\/blockquote>\n<\/div>\n

The move may come as no surprise to those who closely follow Lyft and its struggles to keep apace of rival Uber.<\/p>\n

Risher told TechCrunch in a late March interview that Lyft might drop its shared rides offering<\/a> and make other changes to its business model in a bid to focus on its core ride-hailing business and become profitable.
<\/span><\/p>\n

He listed a number of other products and services that could disappear, including <\/span>Wait & Save, which allows riders in certain regions to pay a lower fare if they wait for the best-located driver.<\/span><\/p>\n

\u201cIt\u2019s possible that maybe we don\u2019t need both of those anymore and that we can focus all our resources on doing a fewer number of things better,\u201d Risher told TechCrunch at the time. \u201cMaybe it\u2019s time for us to say the shared rides were great for a time, but it\u2019s time to let that go.<\/p>\n<\/p><\/div>\n

<\/br><\/br><\/br><\/p>\n

Science, Tech, Technology<\/br>
\n<\/br>
\nSource:https:\/\/techcrunch.com\/2023\/04\/21\/lyft-to-make-significant-cuts-across-ride-hailing-company\/<\/a><\/br><\/br><\/p>\n","protected":false},"excerpt":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/04\/21\/lyft-to-make-significant-cuts-across-ride-hailing-company\/ Lyft to make \u2018significant\u2019 cuts across ride-hailing company 2023-04-21 21:44:37 Lyft\u2019s newly appointed CEO David Risher told employees in an email Friday that the company is significantly reducing its workforce as part of a restructuring effort. Risher said the restructuring is part of Lyft\u2019s plan to \u201cbetter meeting the needs of riders and drivers.\u201d […]<\/p>\n","protected":false},"author":1,"featured_media":29743,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"pagelayer_contact_templates":[],"_pagelayer_content":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26,17,8],"tags":[],"class_list":["post-29742","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-science","category-tech","category-technology"],"yoast_head":"\nLyft to make \u2018significant\u2019 cuts across ride-hailing company - Science and Nerds<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/scienceandnerds.com\/2023\/04\/21\/lyft-to-make-significant-cuts-across-ride-hailing-company\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lyft to make \u2018significant\u2019 cuts across ride-hailing company - Science and Nerds\" \/>\n<meta property=\"og:description\" content=\"Source:https:\/\/techcrunch.com\/2023\/04\/21\/lyft-to-make-significant-cuts-across-ride-hailing-company\/ Lyft to make \u2018significant\u2019 cuts across ride-hailing company 2023-04-21 21:44:37 Lyft\u2019s newly appointed CEO David Risher told employees in an email Friday that the company is significantly reducing its workforce as part of a restructuring effort. 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