Lyft Inc said on Wednesday it was cutting about 60 jobs in its rental division as it tries to reorganize the business amid rising costs
With inflation in the United States at levels not seen in four decades, a number of companies such as Microsoft Corp and Apple Inc have halted hiring and expansion plans in anticipation of a recession.
Lyft will discontinue a service line where it offered its cars for long-term rentals. Instead, the San Francisco, California-based company will offer rental cars through its partnerships with Sixt SE and The Hertz Corp, it said in an e-mailed statement to Reuters.The move comes about two months after Lyft said it would slowdown hiring and assess budget cuts in some departments.
Your time is valuable. Have the Top Business Headlines newsletter conveniently delivered to your inbox in the morning or evening.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Canadian Coast Guard celebrates 60 yearsRead the full story and comment on Tbnewswatch.com
Read more »
'The perfect storm': B.C. residents warned about rental scams this summerWith a difficult rental market and high demand, the Better Business Bureau anticipates a rise in rental scams.
Read more »
'The perfect storm': B.C. residents warned about rental scams this summerWith a difficult rental market and high demand, the Better Business Bureau anticipates a rise in rental scams.
Read more »
Toronto rents are rising at fastest pace in more than a decade, report saysThe rental market is headed ‘in the wrong direction’ as vacancy tightens while rental construction stalls, says Urbanation’s president.
Read more »
Calgary hot housing market bids goodbye to bidding wars amid cool down - Calgary | Globalnews.caCalgary's once sizzling resale housing market sees a cool down amid rising interest rates leading to decreased bidding wars and asking prices.
Read more »