The Latest Breaking News from Lyft

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.

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.

According to predictions made nearly a decade ago, we should be riding around in self-driving vehicles today. It’s now clear the autonomous vehicle revolution was overhyped.

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The ruling mostly upholds a voter-approved law that said drivers for ride-share companies are independent contractors and are not entitled to benefits like paid sick leave and unemployment insurance.

A California appeals court has ruled companies like Uber and Lyft do not have to treat their drivers as employees

Shares of ride-sharing company Lyft (LYFT) plummeted more than 75% over the past year. An unexpected fourth-quarter loss and disappointing revenue guidance for the first quarter of 2023 contributed to the weakened investor sentiment. Given its massive losses, weak guidance, fierce competition among industry peers, and low profitability, is it…