Ride-sharing company Lyft plans to “significantly reduce” its staff size as part of efforts to restructure the ride-sharing company and cut costs.
Risher said the cuts are necessary to create “a faster, flatter company where everyone is closer to our riders and drivers.”
“We need to bring our costs down to deliver affordable rides, compelling earnings for drivers, and profitable growth,” he added. “We intend to use these savings to invest in competitive pricing, faster pick-up times, and better driver earnings. All of these require us to reduce our size and restructure how we’re organized.”
The cuts come days after Risher took the helm at Lyft on April 17. The former Microsoft and Amazon executive became CEO after Lyft’s co-founders, Logan Green and John Zimmer, announced they were stepping back from executive management roles.
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