DIRS.INFO The most relevant business & tech news

☆ Lyft Plans to Lay Off About 700 Employees in Second Round of Job Cuts
▼ + stars: | 2022-11-03 | by ( Preetika Rana | Emily Glazer | ) www.wsj.com time to read: 1 min

Lyft Inc. said it is cutting 13% of staff, or nearly 700 jobs, the latest technology company to say it needed to reduce costs ahead of choppy economic conditions. Co-founders John Zimmer and Logan Green announced the cuts to staff Thursday. “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,” they wrote in the memo viewed by The Wall Street Journal.

☆ Lyft to Lay Off About 700 Employees in Second Round of Job Cuts
▼ + stars: | 2022-11-03 | by ( Preetika Rana | Emily Glazer | ) www.wsj.com time to read: 1 min

Lyft Inc. said it is cutting 13% of staff, or nearly 700 jobs, the latest technology company to say it needed to reduce costs ahead of choppy economic conditions. Confirming an earlier report by The Wall Street Journal, Lyft co-founders John Zimmer and Logan Green announced the cuts to staff Thursday. “There are several challenges playing out across the economy. We’re facing a probable recession sometime in the next year and ride-share insurance costs are going up,” they wrote in the memo viewed by the Journal.

Lyft said Thursday it's cutting 13% of its workforce, impacting all teams. Workers who had been there for more than four years will get an extra four weeks pay, they added. Support for departing team members We understand the real impact this decision has on departing team members. Lyft will offer support to departing team members: · 10 weeks of pay. Moving forward Our priority today is taking care of departing team members, who for many of us are also friends.

☆ Lyft to lay off 13% of staff
▼ + stars: | 2022-11-03 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +2 min

CNN Business —Lyft on Thursday said it will lay off 13% of its staff, or nearly 700 employees, as it rethinks staffing amid rising inflation and fears of a looming recession. In a memo to staffers on Thursday, a copy of which was shared with CNN Business, Lyft (LYFT) co-founders Logan Green and John Zimmer said the layoffs will impact every part of the company, and pointed to broader macroeconomic challenges that led to the cuts. But a number of tech companies reported slowing growth in the September quarter, as customers and advertisers rethink spending. “We are not immune to the realities of inflation and a slowing economy,” Lyft’s founders wrote in the memo to staffers. Shares for Lyft are down nearly 70% so far this year.

☆ Lyft president still thinks driverless cars will dominate ride-share. He just won't say when
▼ + stars: | 2022-10-11 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT — In 2016, Lyft co-founder John Zimmer predicted most of the company's rides would be self-driving within five years, a transformation that would largely eliminate the need for costly drivers. Today, the ride-hailing company is still nowhere near that milestone, and Zimmer, Lyft's president, isn't saying when he thinks it might come to pass. But he still believes self-driving vehicles remain a critical part of Lyft's future. Zimmer, acknowledging that he already got it wrong once, declined to speculate on when a majority of Lyft rides would be offered without a driver. "I'm extremely confident that autonomous vehicles will roll out on existing ride-share or transportation networks," he said.

Search resuls for: "Logan Green"

5 mentions found