Lyft lays off about 60 workers from rental division

(Reuters) – Lyft Inc mentioned on Wednesday it was slicing about 60 jobs in its rental division because it tries to reorganize the enterprise amid rising prices.

With inflation in the USA at ranges not seen in 4 a long time, numerous corporations reminiscent of Microsoft Corp and Apple Inc have halted hiring and growth plans in anticipation of a recession.

Lyft will discontinue a service line the place it provided its automobiles for long-term leases. As a substitute, the San Francisco, California-based firm will provide rental automobiles by means of its partnerships with Sixt SE and The Hertz Corp, it mentioned in an emailed assertion to Reuters.

The Wall Road Journal first reported in regards to the layoffs at Lyft. (https://on.wsj.com/3aQRH86)

The transfer comes about two months after Lyft mentioned it might slowdown hiring and assess price range cuts in some departments. (https://reut.rs/3RP0gAV)

(Reporting by Yuvraj Malik in Bengaluru; Modifying by Krishna Chandra Eluri)