Lyft CEO David Risher said in a letter today to Lyft team members: “At our first all-hands meeting a few weeks ago, you asked me about layoffs and I said they were in the air. Now I’m confirming that we will significantly reduce the size of the team as part of a restructuring to focus on better meeting the needs of riders and drivers. Next Thursday, April 27, by 8:30 am Pacific Time / 8:30 am local time in Eastern Europe, we’ll send an email with details on your employment status. All offices will be closed on Thursday, including Flexdrive locations. I know this creates uncertainty between now and then, but given how many of you know or suspect this is coming, we wanted you to be prepared. Unfortunately, your manager won’t have additional information to share before Thursday…We need to be a faster, flatter company where everyone is closer to our riders and drivers so we can deliver on this purpose. And we need to bring our costs down to deliver affordable rides, compelling earnings for drivers, and profitable growth. 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. I own this decision, and understand that it comes at an enormous cost. We’re not just talking about team members; we’re talking about relationships with people who’ve worked (and played) together, sometimes for years.”
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