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Lyft Announces Significant Staff Reductions to Cut Costs.

Originally Published 2 years ago — by NPR

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Source: NPR

Ride-hailing company Lyft will "significantly reduce" its staff as part of a company-wide restructuring, with reports suggesting around 1,200 jobs could be affected. The move comes as several tech companies, including Facebook and Amazon, have announced job cuts due to a decline in digital ad revenue. Lyft's new CEO, David Risher, said the restructuring is necessary to create a more competitive company that is closer to its riders and drivers. The affected workers will be notified by next Thursday.