The ride-hailing firm, Lyft, has announced it’s cutting 13% of jobs. It said it needs to become leaner as a recession looms and insurance costs rise. The cuts will affect more than 650 people.
The ride-hailing company, Lyft, has said it will axe 13% of jobs as it faces up to the tough realities of inflation and a slowing economy. It has announced these cuts on the same day that Stripe announced cuts and Amazon put a freeze on new corporate hires. In addition to job cuts, Lyft is pursuing the sale of its first-party vehicle service business, but says most of the team will be hired by the acquiring company.
