The Latest Breaking News from Lyft

San Francisco (AFP) - US rideshare service Lyft on Friday sent word to employees that it plans a major staffing reduction to cut costs. 

Ride-hailing company Lyft Inc. plans to cut at least 1,200 jobs in a fresh round of layoffs as the company struggles to reach profitability and compete with bigger rival Uber Technologies Inc.

Lyft is preparing to lay off hundreds of employees

Lyft will "significantly reduce" its staff to cut costs, said CEO David Risher, who took over as the ride-hailing company's leader just this week.

Babacar Mbengue, 35, of Oakland on the South Side, is charged with reckless discharge of a firearm, Chicago police said. No one was hurt.

Uber and Lyft claim deactivations are the company’s response to concerns raised by customers, but too often, good responsible drivers who are innocent are unfairly fired.

An experiment to put himself in drivers’ shoes pushed Uber’s CEO to “reexamine” his assumptions about the company.

LOS ANGELES — Separated by about 16 miles of traffic-snarled L.A. roads — and an income bracket or two — Westwood Hills and Highland Park may not seem like they have a lot in common.

David Risher, who will become Lyft's new CEO in mid-April, has spend the last 14 years leading a non-profit group.

Lyft and Uber have gone head-to-head for in the ride-share market for over a decade, and the pandemic-era lockdowns heightened the competition.

Stock futures slip lower as bank sector worries clip sentiment; Fed supervisor Barr to face Senate lawmakers on SVB collapse; Lyft shares leap as founders step aside for new CEO David Risher; Occidental shares jump as Warren Buffett adds more shares to holding and Alibaba shares spike on plans to…