Lyft to close car rental service and cut 60 employees

Lyft Inc. closes its own car rental service, in connection with which it will cut about 60 employees, according to The Wall Street Journal, citing an internal company document.

The cuts will affect less than 2% of Lyft’s staff.

A spokeswoman for the company told the publication that after the closure of the service, created in 2019, Lyft will offer customers the opportunity to rent cars through its partners – Sixt SE and Hertz Global Holdings Inc.

Lyft, one of the world’s largest taxi services, is also planning to reorganize its operations into 9 regions instead of the current 13.

Lyft shares are down 66% since the start of the year.

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