Lyft to lay off 1,200 under new CEO, Wall Street Journal reports
Risher, a former Amazon executive, informed Lyft's workforce of more than 4,000 employees in an email posted online Friday that a “significant” number of them will lose their jobs. It came at end of his first week as Lyft's CEO.
The note didn't specify how many people would be jettisoned, but The Wall Street Journal reported that at least 1,200 employees will be laid off. The report cited unidentified people familiar with the cost-cutting plans.Risher, who had been a Lyft board member before being recruited to replace co-founder Logan Green, cited expense control as one of his top priorities during a interview with The Associated Press shortly after his hiring was announced.
It was a theme Risher emphasized again in his Friday email explaining why he decided to slash the payroll, which doesn't include Lyft's drivers — a group that is classified as independent contractors. “We need to bring our costs down to deliver affordable rides, compelling earnings for drivers, and profitable growth,” Risher wrote.
Lyft intended to start notifying employees who will be laid off on Thursday when the company plans to close its offices.
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