Lyft to Cut 13% of Workforce

Due to a possible recession, ride-hailing service Lyft is laying off 13% of its employees. Co-founders Logan Green and John Zimmer shared the tough news by stating: “There are several challenges playing out across the economy,” the memo reads. “We’re facing a probable recession sometime in the next year and rideshare insurance costs are going up. We worked hard to bring down costs this summer: we slowed, then froze hiring; cut spending, and paused less-critical initiatives. Still, Lyft has to become leaner, which requires us to part with incredible team members.”

Source: 13 WHAM