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The tech industry has largely recovered from the downturn, but Silicon Valley learned a long-lasting lesson: how to do more with less. Amazon , Google, Microsoft and Meta Platforms have been cutting dozens or a few hundred employees at a time as executives keep tight controls on costs, even as their businesses and stock prices have rebounded sharply.
Organizations: Google, Microsoft, Meta
Preetika RanaPreetika Rana is an award-winning reporter for The Wall Street Journal in San Francisco, where she covers ride-hailing and food-delivery companies. She was the first to report a new CEO at Lyft, deep cuts at Uber during the pandemic and Airbnb's financials before the company went public. Prior to covering Silicon Valley, Preetika was based in the WSJ's Hong Kong and India offices. Her front-page articles ranging from healthcare to human rights have helped shape government policy, aided investigations and triggered public outcry. Preetika has won several awards, including from The Society of Publishers in Asia, The Society of Professional Journalists and The Asia Society.
Persons: Preetika Rana Preetika Rana, financials, Preetika Organizations: Wall Street, Uber, The Society of Publishers, The Society of Professional Journalists, The Asia Society Locations: San Francisco, Lyft, Silicon, Hong Kong, India, Kashmir, Nepal, China, Asia
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/tech/ai/tech-titans-rebound-from-tough-times-as-ai-fuels-optimism-77038b3a
Persons: Dow Jones
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/business/hospitality/who-should-eat-the-cost-of-pricier-delivery-menus-restaurants-or-consumers-f918de28
Persons: Dow Jones
Sam SchechnerSam Schechner covers technology, based out of The Wall Street Journal's Paris bureau, focusing on the intersection between technology, business and society. His stories have often tackled the role large technology platforms play on topics like privacy, competition and internet censorship. Previously, Sam covered business in France, and along with his colleagues in the Paris bureau shared in a New York Press Club award for their coverage of the November 2015 terrorist attacks in Paris. He joined the Journal in 2005 as an entertainment columnist in New York, and later covered the business of television, including large media and cable companies such as Viacom and Comcast. Sam has a bachelor's degree from Brown University and lives in Paris with his wife, their two children and his childhood pet turtle.
Persons: Sam Schechner Sam Schechner, Sam Organizations: Facebook, Polk, U.S . Federal Trade Commission, New York Press, Viacom, Comcast, Brown University Locations: Paris, France, New York
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/lyft-q2-earnings-report-2023-1de962d3
Persons: Dow Jones
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/uber-q2-earnings-report-2023-453c335a
Persons: Dow Jones
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/uber-q2-earnings-report-2023-453c335a
Persons: Dow Jones
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/ubers-grand-plan-to-go-all-electric-in-london-ran-into-gridlock-a51edcb1
Persons: Dow Jones
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/inside-lyft-ceo-david-rishers-efforts-to-bolster-the-company-2f20f807
Persons: Dow Jones
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/inside-lyft-ceo-david-rishers-efforts-to-bolster-the-company-2f20f807
Persons: Dow Jones
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/doordash-uber-eats-and-grubhub-sue-new-york-city-over-minimum-wage-law-7cee287
Persons: Dow Jones, 7cee287
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/niantic-is-laying-off-around-25-of-its-workforce-shutting-down-some-games-9348a2f5
Persons: Dow Jones
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/niantic-is-laying-off-around-25-of-its-workforce-shutting-down-some-games-9348a2f5
Persons: Dow Jones
Uber Is Laying Off 200 People in Its Recruiting Team
  + stars: | 2023-06-21 | by ( Preetika Rana | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/uber-is-cutting-200-people-in-its-recruiting-team-65c34ed
Persons: Dow Jones, 65c34ed
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/uber-airbnb-ratings-perfect-scores-customers-93686deb
Persons: Dow Jones
While taking a customer to the airport one evening, he had to ignore frantic phone calls from his chief legal officer who was trying to alert him that a hacker had breached Uber’s network. Another trip took him across the Bay Bridge to Oakland—and he swore never to do it again after getting stuck in rush-hour traffic back to the city. Michael Ho Wai Lee/SOPA Images/ZumaJustin Sullivan/Getty
Lyft Stock Falls After Weak Outlook
  + stars: | 2023-05-04 | by ( Preetika Rana | ) www.wsj.com   time to read: 1 min
Lyft plans to pass along some projected annual cost savings to riders and drivers in the form of lower prices and higher earnings. Photo: Mario Tama/Getty ImagesLyft shares fell Thursday after it forecast weaker-than-expected revenue and adjusted earnings in the June quarter, as it rides through a tumultuous period of layoffs and leadership changes. The outlook overshadowed the ride-sharing company’s first-quarter results. Revenue increased 14% to $1 billion in the three months ended March, better than the $982 million that analysts surveyed by FactSet had predicted.
Lyft Grew First-Quarter Revenue During Tumultuous Period
  + stars: | 2023-05-04 | by ( Preetika Rana | ) www.wsj.com   time to read: 1 min
Lyft plans to pass along some projected annual cost savings to riders and drivers in the form of lower prices and higher earnings. Photo: Mario Tama/Getty ImagesLyft shares fell Thursday after it forecast weaker-than-expected revenue and adjusted earnings in the June quarter, as it rides through a tumultuous period of layoffs and leadership changes. The ride-sharing company’s revenue increased 14% to $1 billion in the three months ended March, better than the $982 million that analysts surveyed by FactSet had predicted.
Uber’s Rides, Delivery Lift First-Quarter Results
  + stars: | 2023-05-02 | by ( Preetika Rana | ) www.wsj.com   time to read: 1 min
Uber’s sales expansion in the quarter was in line with Wall Street’s expectations. Photo: Mario Tama/Getty ImagesContinued demand for Uber Technologies ’ ride-share and delivery services boosted its revenue and adjusted earnings in the first quarter, despite concerns that high inflation and a potential recession could douse spending. The San Francisco-based company said Tuesday that revenue for the three months through March rose 29% from a year earlier to $8.82 billion. It also increased the number of consumers and trips, and the value of transactions, on its platform. The sales expansion was in line with Wall Street’s expectations.
Lyft is scaling back on hiring and eliminating jobs after struggling during the pandemic. Photo: lucas jackson/ReutersLyft Inc. said Thursday that it is cutting over 1,000 additional jobs, days after a new chief executive took over and following a round of layoffs of 700 people in November. The latest cuts impact 26% of the company’s employees. The Wall Street Journal earlier reported on the planned cuts.
Watch: Tucker Carlson Speaks Out After Fox News Exit
  + stars: | 2023-04-26 | by ( ) www.wsj.com   time to read: 1 min
Lyft to Cut at Least 1,200 Jobs, Struggles to Keep Up with Rival UberRide-hailing company Lyft plans to cut at least 30% of its workforce. It comes days after a new CEO officially took over. Can the changes and new leadership help Lyft compete with its biggest rival Uber? WSJ ride-hailing reporter Preetika Rana joins host Zoe Thomas to explain what’s going on inside Lyft. Photo: Justin Sullivan/ Getty Images
Lyft shares have slid close to 70% over the past 12 months. Photo: Al Seib/Los Angeles Times/Getty ImagesLyft Inc. plans to cut 1,200 or more jobs in a new round of layoffs as the ride-sharing company aims to reduce costs, according to people familiar with its plans. The latest cuts could impact 30% or more of Lyft’s more than 4,000 employees, the people said, and the company had planned to announce the move after a board meeting next week. The cuts could help Lyft slash 50% of its costs, some of the people said. Lyft doesn’t count its drivers as employees.
After five years running Uber Technologies Inc., Dara Khosrowshahi in September got behind the wheel himself. Using the alias “Dave K” and a gray Tesla Model Y that he purchased secondhand, the chief executive made dozens of trips as a ride-share driver in the following months ferrying people around the hills of San Francisco.
Lyft Inc.’s leadership change this week followed months of discontent among some employees over the company’s shrinking market share and stock price. As the ride-share company has struggled with competition from Uber Technologies Inc., some people within the company had been questioning the leadership of its co-founders—Chief Executive Logan Green and President John Zimmer —for months. Some investors and stock analysts also had urged change.
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