Lyft cutting 13 percent of employees ...Middle East

Lyft is laying off 13 percent of its employees, the ride-hailing service announced Thursday, citing inflation strains and recession fears. “There are several challenges playing out across the economy. We’re facing a probable recession sometime in the next year and rideshare insurance costs are going up,” co-founders Logan Green and John Zimmer said in a memo to Lyft team members. “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,” the memo read. In addition to the layoffs, the company is also selling its first-p

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Lyft cutting 13 percent of employees ...Middle East

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