Lyft to layoff 13% of staff
Lyft says it will lay off 13% of its staff, or nearly 700 employees.
COLUMBIA, S.C. (WOLO)— Lyft says it will lay off 13% of its staff, or nearly 700 employees.
In a memo to staffers Thursday, Lyft’s co-founders said the layoffs will impact every part of the company.
They said they’re facing a probable recession next year and rideshare insurance costs are going up.
They said they worked hard to bring down costs last summer, by slowing, then freezing hiring.
Executives say they also cut spending, and put less-critical initiatives on hold.