SAN FRANCISCO, April 21 (Xinhua) -- Leading U.S. ride-hailing company Lyft's chief executive officer David Risher said on Friday that the company will significantly reduce its workforce as part of a restructuring effort.
Risher said in an email to the employees that the restructuring is part of Lyft's plan to "better meeting the needs of riders and drivers."
The layoffs will be directed at the company's more than 4,000 full-time employees, who will learn whether they have a job or not via an email that will be sent out April 27.
A Wall Street Journal report cited unnamed sources that about 1,200 workers, 30 percent of its total workforce, would be affected.
"We need to be a faster, flatter company where everyone is closer to our riders and drivers. And we need to bring our costs down to deliver affordable rides, compelling earnings for drivers, and profitable growth," said Risher.
"We intend to use these savings to invest in competitive pricing, faster pick-up times, and better driver earnings. All of these require us to reduce our size and restructure how we're organized," he added. ■