Lyft Lays Off Chunk of Legal Team, Names Former GC as President
Kristin Sverchek, who's been with Lyft since 2012 and was general counsel until 2021, will help the company's new CEO execute his strategy of slashing costs to make the service more affordable for riders and profitable for drivers.
May 01, 2023 at 07:26 AM
4 minute read
Technology Media and Telecom
Struggling ride-hailing company Lyft's mass layoffs late last week included 40 members of the 180-person legal and compliance department, a more than 20% reduction that underscores the deep challenges facing the Uber rival.
The San Francisco-based company rolled out the layoffs Thursday. It said it would cut 1,072 employees, or 26% of its workforce, and not hire for an additional 250 positions.
The layoffs were the latest in a whirl of recent changes, including the March announcement that its founders—CEO Logan Green and President John Zimmer—would give up those roles and that former Amazon executive David Risher would take the helm.
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