Lyft to cut 1,072 employees, or 26% of its workforce
Publishing timestamp: 2023-04-27 16:21:04
Summary
Ride-hailing app Lyft will lay off 1072 employees, roughly 26% of its corporate workforce, and not hire for additional 250 positions as part of its continued focus on "better meeting" consumer and driver needs. The company's new CEO, David Risher, has emphasized the need to streamline operations and get back to "better meeting needs of riders and drivers." The layoffs come amid a broader economic slowdown that has hit tech companies particularly hard, with more than 184,000 tech employees losing their jobs in 2023 alone.
Sentiment: NEGATIVE
Tickers: LYFT,
Keywords: personnel, breaking news, layoffs, lyft inc, technology, labor economy, business news,