Lowering fares has helped the company boost the number of people using the platform.

Lyft to Eliminate Surge Pricing, Much to the Delight of Riders

Lyft intends to eliminate surge pricing in an effort to increase its number of riders. During the company’s earnings call for the second quarter, CEO David Risher acknowledged that this contentious practice is an undesirable way of raising prices, which riders strongly dislike. Suge pricing, which Lyft calls Prime Times, typically kicks in when there aren’t enough drivers to meet demand. The idea is that recreational drivers smell an opportunity to make more money and be more inclined to jump in their car and work for a while. However, riders…

Risher informed Lyft's workforce of more than 4,000 employees in an email posted online Friday that a “significant” number of them will lose their jobs

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Lyft is laying off hundreds of workers as part of new CEO David Risher’s cost-cutting plan

Sanjay PatilApril 22, 23CEO, David Risher, Jobs, Layoff, Lyft

Lyft is preparing to lay off hundreds of workers just days after new CEO David Risher began steering the ride-hailing service to cut costs to bring its rates more in line with its biggest rival, Uber. Risher, a former Amazon executive, told Lyft’s workforce of more than 4,000 employees in an email posted online Friday that a “significant” number of them would lose their jobs. It came at the end of his first week as CEO of Lyft. The memo did not specify how many people would be laid off,…