Lyft is about to reveal for the first time just how bad the coronavirus' impact has been on its business. Here's what to expect.
Ride-hailing has been hit hard by shelter-in-place orders around the world, and Lyft is no exception.
And while Lyft doesn't have a delivery arm as large as Uber's to make up for some of the ride-hailing losses, its limited global footprint of only North America could prove to be a positive in the long run. "It is now clear that the COVID-19 crisis is going to have broad-reaching implications for the economy, which impacts our business," CEO Logan Green said in a press release at the tine. "We have therefore made the difficult decision to reduce the size of our team. Our guiding principle for decision-making right now is to ensure we emerge from the crisis in the strongest possible position to achieve the company's mission.
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California Sues Uber, Lyft For Not Making Drivers EmployeesI’m a San Francisco-based reporter covering breaking news at Forbes. I’ve previously reported for USA Today, Business Insider, The San Francisco Business Times and San Jose Inside. I studied journalism at Syracuse University’s S.I. Newhouse School of Public Communications and was an editor at The Daily Orange, the university’s independent student newspaper. Follow me on Twitter rachsandl or shoot me an email rsandlerforbes.com.
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