Lyft plans to "significantly reduce" its workforce, the company's new CEO David Risher told employees on Friday, in another round of layoffs as it struggles to turn a profit and pull off a turnaround.
In a company-wide memo, Risher said the cuts were aimed at making Lyft a "faster, flatter company where everyone is closer to our riders and drivers."
"I own this decision, and understand that it comes at an enormous cost," Risher continued. "We're not just talking about team members; we're talking about relationships with people who've worked (and played) together, sometimes for years."
The announcement follows Lyft's move in November to cut 13 per cent of its workforce, citing fears of a looming recession.
The Wall Street Journal reported that the latest job cuts would eliminate at least 1,200 positions or upward of 30 per cent of its staff. A Lyft spokesperson declined to provide details on the extent of the cuts.
"David has made clear to the company that his focus is on creating a great and affordable experience for riders and improving drivers' earnings," the spokesperson said. "To do so requires that we reduce our costs and structure our company so that our leaders are closer to riders and drivers. This is a hard decision and one we're not making lightly. But the result will be a far stronger, more competitive Lyft."
Lyft announced last month that Risher, an Amazon veteran, would take over as CEO in April, and that co-founders Logan Green and John Zimmer will step down from their management positions at the ride-hailing company.
Risher was the 37th employee of Amazon -- a company that has long been the model for the on-demand industry -- and he went on to become the e-commerce giant's first head of product and head of US retail.
For Lyft and Risher, the current challenges are immense. While Uber diversified its business beyond ride-hailing by delivering meals and grocery items, Lyft never did. That arguably hurt the company earlier in the pandemic when fewer customers were travelling but more were ordering items online.
Now Uber is showing renewed strength In its most recent earnings report, Uber said that it had its "strongest quarter ever," reporting a 49 per cent year-over-year increase in revenue. Lyft's latest earnings report, meanwhile, was unusually disappointing for Wall Street.
Lyft shares were up 6 per cent in midday trading Friday, but the company's stock is down roughly 70 per cent over the past year.
MPs in the House of Commons are debating the Conservatives’ non-confidence motion today, with Conservative Leader Pierre Poilievre calling for 'a carbon tax election,' and a return to what he called 'the Canadian promise' in a 20-minute speech.
An image of the unidentified object shot down over Canada's Yukon territory in February 2023 has been obtained by CTVNews.ca.
We've all had neighbours we didn't like, but two people from Sault Ste. Marie have been awarded more than half a million dollars for the 'extreme' behaviour of the people who lived next to them.
Police in Spain have arrested five people accused of scamming two women out of 325,000 euros (US$362,000) by pretending to be Hollywood star Brad Pitt online.
Health Canada has approved Pfizer-BioNTech's updated COVID-19 vaccine that protects against one of the most recently circulating variants of the virus.
The federal government is advising Canadians in Lebanon to leave now while commercial flights are available, saying, 'Canada is not currently offering assisted departures or evacuations.'
Pro Football Hall of Fame quarterback Brett Favre revealed Tuesday at a hearing on federal welfare reform that he has been diagnosed with Parkinson's disease.
An 18-year-old woman who allegedly stole a Porsche and then ran over its owner in a caught-on-video incident in Mississauga earlier this month is now facing auto theft charges in Toronto.
Given the continued progress the Bank of Canada has made in bringing inflation back down to the 2 per cent target, it is reasonable to expect more rate cuts, Governor Tiff Macklem said on Tuesday.
We've all had neighbours we didn't like, but two people from Sault Ste. Marie have been awarded more than half a million dollars for the 'extreme' behaviour of the people who lived next to them.
The calls are growing louder for city council to tighten the rules governing short-term accommodations, including those advertised on websites like Airbnb and Vrbo, after students arrived by the busload at a rented house in the Masonville neighbourhood.
Video of a B.C. man's surprise encounter with a black bear has gone viral online, generating much discussion about how to best respond when face-to-face with an aggressive animal.
An 18-year-old woman who allegedly stole a Porsche and then ran over its owner in a caught-on-video incident in Mississauga earlier this month is now facing auto theft charges in Toronto.
An image of the unidentified object shot down over Canada's Yukon territory in February 2023 has been obtained by CTVNews.ca.
The federal government is advising Canadians in Lebanon to leave now while commercial flights are available, saying, 'Canada is not currently offering assisted departures or evacuations.'
Donald Trump flubbed the name of Charlottesville, Virginia, while going off script during a speech on Tuesday otherwise focused on economic policy, slamming U.S. Vice President Kamala Harris for lying about 'Charlottestown.'
Prince Harry said today's youth is in the midst of an 'epidemic' of anxiety, depression and social isolation due to negative experiences online, as he brought his campaign to help children and their parents navigate cyberspace to this week's Clinton Global Initiative.
The federal government is advising Canadians in Lebanon to leave now while commercial flights are available, saying, 'Canada is not currently offering assisted departures or evacuations.'
Japan's top diplomat asked China to ensure the safety of Japanese citizens there after the fatal stabbing of a Japanese schoolboy, and demanded a crackdown on what she called 'groundless, malicious and anti-Japanese' social media posts that threaten children's safety.
The son of the man suspected in the assassination attempt in Florida of former President Donald Trump has been arrested on federal charges of possessing child sexual abuse images.
The passenger in a car was killed when a horse smashed through the windshield during a series of crashes on a Southern California interstate over the weekend, authorities said.
Steven Guilbeault accused Pierre Poilievre of catering to his 'rich friends' in the oil and gas sector by pushing a policy to scrap carbon pricing.
MPs in the House of Commons are debating the Conservatives’ non-confidence motion today, with Conservative Leader Pierre Poilievre calling for 'a carbon tax election,' and a return to what he called 'the Canadian promise' in a 20-minute speech.
Prime Minister Justin Trudeau said many Canadians are taking their cost-of-living frustrations 'out on me for understandable reasons,' during his U.S. late-night television debut on 'The Late Show' with Stephen Colbert Monday night.
Respiratory syncytial virus, or RSV, season is just a few months away, but new vaccine options have already arrived for Ontario residents who may be vulnerable to the winter bug.
Private nursing agencies could cost Canadian health-care facilities approximately $1.5 billion in 2023-24, according to a new report commissioned by the Canadian Federation of Nurses Unions.
Health Canada has approved Pfizer-BioNTech's updated COVID-19 vaccine that protects against one of the most recently circulating variants of the virus.
Scientists have discovered a new species of ghost shark that lives in deep ocean waters near Australia and New Zealand.
A new analysis of dozens of arrowheads is helping researchers piece together a clearer portrait of the warriors who clashed on Europe’s oldest known battlefield 3,250 years ago.
Finally, an emoji to represent us all is coming soon: An exhausted face with bags under its eyes.
Beverly Glenn-Copeland says he's been diagnosed with dementia and will play his final concert tour dates over the next two weeks.
Police in Spain have arrested five people accused of scamming two women out of 325,000 euros (US$362,000) by pretending to be Hollywood star Brad Pitt online.
Genealogy and family tree tracking site Ancestry announced on Monday that by using “billions of historical records and public family trees,†they’ve discovered that the two music powerhouses are actually seventh cousins, once removed.
Given the continued progress the Bank of Canada has made in bringing inflation back down to the 2 per cent target, it is reasonable to expect more rate cuts, Governor Tiff Macklem said on Tuesday.
Some Royal Bank of Canada employees who joined when the bank acquired HSBC Canada worry they could lose their jobs when RBC's six-month guarantee to keep them expires this month, according to six sources familiar with the situation.
Metro Vancouver grain terminal workers are now on strike, bringing tens of millions of dollars of exports to a standstill.
From cellphone 'hotels' to patchwork policies to recalibrating lesson plans, teachers and schools across Canada are learning to navigate a classroom without cellphones.
An ordinary day on the job delivering mail in East Elmwood quickly turned dramatic for Canada Post letter carrier Jared Plourde. A woman on his route was calling out in distress.
The Newcomers Football Club, an impromptu team made up of asylum-seekers, has helped provide Boubacar Lukaku and others with a joy that erases their stress. And it's helped connect them with a supportive community as they navigate the challenges of a new country.
Pro Football Hall of Fame quarterback Brett Favre revealed Tuesday at a hearing on federal welfare reform that he has been diagnosed with Parkinson's disease.
Reid Carruthers seeks a three-peat in curling's quirky PointsBet Invitational that's become an unofficial season kickoff because of money, field and visibility.
Cole Perfetti will suit up for the Winnipeg Jets for another two years.
The Canada Border Services Agency (CBSA) reported this week that officers in the agency's Montreal Marine and Rail Services seized 78 vehicles and transferred them to police. Numbers of stolen vehicles in Quebec continue to skyrocket.
Struggling Jeep and Ram maker Stellantis is looking for a CEO to succeed Carlos Tavares, but the company says it's just part of a normal leadership succession plan.
The U.S. Commerce Department on Monday will propose a ban on the sale or import of smart vehicles that use specific Chinese or Russian technology because of national security concerns, according to U.S. officials.
An ordinary day on the job delivering mail in East Elmwood quickly turned dramatic for Canada Post letter carrier Jared Plourde. A woman on his route was calling out in distress.
Fire has destroyed a barn and 17,000 plants at a family-owned business in Lower Coverdale, N.B.
Before influencers on social media, Canada’s Jeanne Beker was bringing the world of high fashion down to earth and as Calgary’s Glenbow Museum gets a major make-over, it will include a new exhibition showcasing the pop culture icon.
A sea lion swam free after a rescue team disentangled it near Vancouver Island earlier this week.
A Nova Scotian YouTuber has launched a mini-truck bookmobile.
Cole Haas is more than just an avid fan of the F.W. Johnson Wildcats football team. He's a fixture on the sidelines, a source of encouragement, and a beloved member of the team.
Getting a photograph of a rainbow? Common. Getting a photo of a lightning strike? Rare. Getting a photo of both at the same time? Extremely rare, but it happened to a Manitoba photographer this week.
An anonymous business owner paid off the mortgage for a New Brunswick not-for-profit.
They say a dog is a man’s best friend. In the case of Darren Cropper, from Bonfield, Ont., his three-year-old Siberian husky and golden retriever mix named Bear literally saved his life.
Video of a B.C. man's surprise encounter with a black bear has gone viral online, generating much discussion about how to best respond when face-to-face with an aggressive animal.
Metro Vancouver grain terminal workers are now on strike, bringing tens of millions of dollars of exports to a standstill.
An image of the unidentified object shot down over Canada's Yukon territory in February 2023 has been obtained by CTVNews.ca.
An 18-year-old woman who allegedly stole a Porsche and then ran over its owner in a caught-on-video incident in Mississauga earlier this month is now facing auto theft charges in Toronto.
Respiratory syncytial virus, or RSV, season is just a few months away, but new vaccine options have already arrived for Ontario residents who may be vulnerable to the winter bug.
Premier Doug Ford is standing behind comments he made suggesting that people living in encampments “just need to get a job to lift themselves out of poverty.â€
Premier Danielle Smith says she plans to reinforce the right to decide whether to receive a vaccination or other medical procedure in changes to the Alberta Bill of Rights.
A Calgary man is facing child pornography charges after an investigation uncovered years of messages exchanged with an alleged felon.
An image of the unidentified object shot down over Canada's Yukon territory in February 2023 has been obtained by CTVNews.ca.
As sirens sound in Lebanon amid escalating violence between Israel and militant group Hezbollah, many Ottawa residents with family there find it hard to watch.
Ottawa police say there is an ongoing investigation at Glebe Collegiate Institute.
Ottawa police say a 26-year-old man has been arrested following a several assaults on passengers travelling on OC Transpo vehicles Monday morning.
The heat is rising for Quebec Premier François Legault as opposition parties demand answers about his government's investment in the planned Northvolt battery factory near Montreal.
A fire in a container at one of the Port of Montreal's terminals prompted the city to issue a containment notice for the area adjacent to the port on Monday evening, in the Mercier--Hochelaga-Maisonneuve borough.
The Canada Border Services Agency (CBSA) reported this week that officers in the agency's Montreal Marine and Rail Services seized 78 vehicles and transferred them to police. Numbers of stolen vehicles in Quebec continue to skyrocket.
One person was hospitalized after a crash involving a Valley Line Southeast LRT train and a semi Tuesday morning.
A transgender Albertan says it would be a slap in the face if Premier Danielle Smith allows back into the government caucus a member who once compared transgender children to feces.
Premier Danielle Smith says she plans to reinforce the right to decide whether to receive a vaccination or other medical procedure in changes to the Alberta Bill of Rights.
Antigonish County District RCMP is trying to track down a man wanted on a provincewide arrest warrant for sexual assault in Nova Scotia.
Nova Scotia's Progressive Conservative government has announced it will build four new schools in the Halifax region as part of its school capital plan for the area.
A candidate for Halifax mayor says the municipality's approach to homeless encampments has encouraged unhoused people from across the country to move to the city to live in tents. But housing advocates and a city councillor say that claim is untrue.
The province has announced a new plan to lower the age for mammogram self-referrals to 40 from 50 in an effort to get more Manitobans screened for breast cancer.
An ordinary day on the job delivering mail in East Elmwood quickly turned dramatic for Canada Post letter carrier Jared Plourde. A woman on his route was calling out in distress.
Parks Canada said it is considering treatment options and bringing in third-party experts after multiple, living juvenile zebra mussels were once again discovered in Clear Lake.
A report from a tribunal appointed by the Saskatchewan Party government says a proposed federal emissions cap and methane regulations would cause severe economic damage.
Health care is shaping up to be a major issue for this fall’s provincial election in Saskatchewan and on Monday both the Sask. Party and NDP announced plans on how they will work to improve the sector if elected this fall.
Regina police will be conducting a two-day traffic blitz in and around the city Tuesday and Wednesday.
A reward of up to $50K has been issued by Waterloo Regional Police for information leading to the conviction of the person or persons responsible for the fatal stabbing of 18-year-old Joshua Bennett.
Environment Canada says southwestern Ontario could get up to 55 mm of rain by Wednesday morning.
An image of the unidentified object shot down over Canada's Yukon territory in February 2023 has been obtained by CTVNews.ca.
A man and woman in Saskatoon who had two kilograms of methamphetamine seized from a home are going back to trial after having their acquittals overturned.
The Saskatchewan Government is in the province's highest court fighting to prevent a Court of King’s Bench judge from determining if its Parents' Bill of Rights actually violates the Charter.
Fire crews are battling a blaze at the Candle Lake Golf Course clubhouse on Monday morning.
An image of the unidentified object shot down over Canada's Yukon territory in February 2023 has been obtained by CTVNews.ca.
We've all had neighbours we didn't like, but two people from Sault Ste. Marie have been awarded more than half a million dollars for the 'extreme' behaviour of the people who lived next to them.
A 49-year-old Sudbury woman who was killed in a tragic collision with a police boat June 7 on Nepewassi Lake was told to remain in a residence on an island until police returned to pick her up.
A London man charged with criminal harassment following an incident outside the Parkhill Public Library during a Drag Queen story reading on April 29, 2023, has been found not guilty.
The calls are growing louder for city council to tighten the rules governing short-term accommodations, including those advertised on websites like Airbnb and Vrbo, after students arrived by the busload at a rented house in the Masonville neighbourhood.
Todd Thompson never imagined he would raise over $100,000 towards men's cancer and mental health programs in just a few short years. That's because he was entirely cancer-free, a few years ago.
Three construction workers are being praised for their actions that police in Barrie say likely prevented an armed man from fleeing before being taken into custody.
Four puppies were found near County Road 21 in Essa after a passerby spotted one when it ran out of the ditch and onto the road.
An Uber driver was handed a 12-month driving ban on Tuesday following a collision that injured a pedestrian and killed a dog in Barrie.
Windsor police officers are asking for the public’s help identifying and finding a suspect after a convenience store robbery in south Windsor.
A man swimming across the Detroit River from Windsor to Detroit was rescued by a mail boat, according to the J.W. Westcott Company.
Residents living in a Tecumseh neighbourhood had an unusual sighting over the weekend.
A man and a woman from Nanaimo, B.C., are facing more than two dozen charges after police seized four guns and several hundred grams of illicit drugs following a complaint about drug trafficking in the city's downtown core.
Former British Columbia chief coroner Lisa Lapointe has emerged from retirement to throw her weight behind a BC Green's campaign pledge to expand safer supply of opioids and other drugs to deal with the province's deadly overdose crisis.
Video of a B.C. man's surprise encounter with a black bear has gone viral online, generating much discussion about how to best respond when face-to-face with an aggressive animal.
A pair of runaway pigs are in the custody of an animal sanctuary in the Okanagan after evading police and volunteers for hours earlier this week.
The Red Bridge, a historic landmark in Kamloops, B.C., was completely destroyed by fire early Thursday morning.
Animal protection officers in British Columbia have rescued three pit bulls – including one that gave birth to 10 puppies – from a rat-infested home in Kelowna.
To make higher education an easier step to take for Indigenous students, the University of Lethbridge is dropping some fees for those applicants.
Authorities arrested a man from Pincher Creek after shots were fired near a home on the Blood Tribe First Nation.
A former Lethbridge pastor who bilked millions out of hundreds of southern Albertans has appealed his conviction and sentence.
A 25-year-old suspect was charged with impaired driving Sept. 21 after police spotted two people without helmets on an ATV on Sand Bay Road in Goulais River.
A federal offender who was last seen in Sudbury is wanted on a Canada-wide warrant for allegedly breaching his statutory release conditions.
The judge in the sexual assault trial against former Hedley frontman Jacob Hoggard delivered his instructions to the jury in a northern Ontario courtroom Tuesday afternoon.
Newfoundland and Labrador sponsored a minor football team in England, now they’re about to play one of the biggest clubs in European soccer.
Newfoundland and Labrador's chief medical officer is monitoring the rise of whooping cough infections across the province as cases of the highly contagious disease continue to grow across Canada.
A 16-year-old biennial event aimed at fostering business in the country's eastern Arctic and northern regions has been cancelled indefinitely as a dispute unfolds between Inuit in Canada and a Labrador group claiming to share their heritage.
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