Quote from Ndubuisi Ekekwe on April 22, 2023, 8:29 PM

I have written in the past that Uber will likely buy Lyft. That is looking likely as Lyft continues to fade.

Just a week after taking over the top job at Lyft, new CEO David Risher said that the rideshare company plans to “significantly reduce” its headcount, starting next week. While Lyft has not detailed the size of the cuts, The Wall Street Journal reported that some 1,200 employees — or 30% of the workforce — will be laid off. The company does not count drivers as employees. Lyft, which cut 760 jobs in November, has fallen behind bigger rival Uber, which diversified into food delivery during the pandemic and has benefitted from its global size.

• Lyft has seen its stock slide some 70% over the past year.
• The company issued a lower-than-expected revenue outlook for the first quarter in February; it will report those results May 4.