Lyft Inc.’s new chief executive officer told employees to prepare for a series of changes, including returning to the office, the New York Times reported.
(Bloomberg) — Lyft Inc.’s new chief executive officer told employees to prepare for a series of changes, including returning to the office, the New York Times reported.
On Friday, David Risher, who took the top job last week, told staff in an all-hands meeting that they would be required to come back into the office at least three days a week starting this fall, according to the Times. Lyft workers had been enjoying a “fully flexible” work policy since last year, when the San Francisco-based company told staff they had the option to work and live wherever they wanted.
Risher “shared with Lyft team members the first steps in a plan for a flexible model with more regular in-office work,” a company spokesperson said. “We look forward to sharing more soon.”
A former Amazon.com Inc. executive, Risher is moving quickly to make his mark and help turn around the struggling ride-hailing company. The new policies came a day after the company cut about 1,072 jobs, or 26% of its workforce, as it aims to achieve profitability and compete with bigger rival Uber Technologies Inc. The company has said it plans to use the cost savings to lower prices for riders and improve wages for drivers.
Lyft shares were up about 1.4% on Friday afternoon in New York. They are down 6% this year while Uber has gained 25%.
(Updates with comment from Lyft in third paragraph.)
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