Lyft's decision to restructure its micromobility division and lay off about 1% of its workforce aims to streamline operations and cut costs, affirming its commitment to bikes and scooters.
CEO David Risher emphasized that bikes and scooters are fundamental to Lyft's mission, stating they "make our company stronger," while announcing a shift towards Lyft Urban Solutions.
As part of consolidating its offerings, Lyft plans to discontinue standalone dockless bikes and scooters, seeking to enhance its urban mobility solutions under a new branding.
The restructuring efforts are projected to save Lyft approximately $20 million annually by 2025, contributing to an improved adjusted operating income.
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