Ride-sharing app Lyft confirmed it would lay off 1,072 employees, roughly 26% of its corporate workforce, and not hire for an additional 250 positions.
The news comes a week after a memo from new Lyft CEO David Risher confirmed that the company woulda 13% headcount reduction in Nov. 2022.started earlier this month. He has emphasized a need to streamline operations and get back to "better meeting the needs of riders and drivers" in employee communications and public messaging.
Lyft co-founders Logan Green and John Zimmer remain on the company's board, having led the company through its 2019 public offering and subsequent expansion.A focus on efficiency has been a familiar refrain from tech executives. The broader economic slowdown has hit tech companies particularly hard: More than 184,000 tech employees have lost their jobs in 2023 alone, according to data from Layoffs.fyi.
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