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Lyft lays off 1,072 employees, or 26% of its team, in cost-cutting push

M

Mikey Radio

finance.yahoo.com

Lyft lays off 1,072 employees, or 26% of its team, in cost-cutting push

Lyft announced another round of layoffs on Thursday, the first big move under its new CEO who said last month he thought companies could get "twice the team...without twice the people."
finance.yahoo.com finance.yahoo.com
Lyft (LYFT) revealed plans on Thursday to lay off 26% of its staff as the company becomes the latest in the tech space to deepen workforce cuts amid a challenging economic environment.
The announcement will affect 1,072 employees at the rideshare company, which will also scale back plans to fill 250 open positions.
Click to expand...
Previously, Lyft laid off 13% of its staff back in November.
Lyft's stock is down about 9% year-to-date, whereas competitor Uber (UBER) has seen its shares climb about 17% year-to-date.
Click to expand...
 
Sirius Satellite Radio and XM started out as 2 separate companies before merging to become SiriusXM. I wonder if the same type of move makes sense for Uber and Lyft? There are lots of cars with the lighted signs in their front windows who display the logos of both those companies already, as they drive for both.
 
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