Lyft to lay off 13 percent of its workforce as economic outlook darkens
Lyft is laying off 13 percent of its workforce in the second round of major cuts to hit the ride-hailing company this year. The layoffs, which were first reported by The Wall Street Journal, are expected to affect hundreds of roles. Lyft has more than 4,000 employees, which does not include its drivers.
In an email posted on the company’s website, Lyft CEO Logan Green and president John Zimmer cited “a probable recession sometime in the next year” and rising ride-share insurance costs as among the reasons for the layoffs.
This isn’t the first time that Lyft is slashing roles this year. The company laid off about 60 employees after deciding to shut down its rental...