Lyft is laying off 90 employees as it struggles to become profitable

Lyft announced a round of staff cuts amid questions about the company’s ability to stem its enormous losses and show how it can achieve profitability. The company is laying off about 90 employees, or around 1.6 percent of its 5,500-person workforce. The layoffs were first reported by The New York Times — though Lyft denied that it was part of a broader corporate restructuring, as originally reported by the Times.

The layoffs will affect Lyft’s marketing and enterprise sales departments, according to a spokesperson. The company is moving away from city-based marketing teams to more regionally focused ones, while the enterprise team is reprioritizing its most important markets.

“We’ve carefully evaluated the resources we need to achieve...

Continue reading…