Lyft

Lyft wins dismissal of shareholder lawsuit over earnings report error

The judge found no proof that the San Francisco-based company and its top executives intended to defraud anyone by reporting an incorrect profit margin

California court considers law treating Uber, Lyft drivers as contractors

Uber, Lyft and other app-based services spent more than $200 million on a campaign to pass Prop 22 and have said that without it, the increased costs could force them to stop doing business

A 'clerical error' in Lyft outlook triggers 67% jump before reality dawns

The firm mistakenly said that the margins will rise by 500 basis points. (bps). The actual figure was 50 bps

Thousands of US Uber, Lyft drivers plan strikes on Valentine's Day

Thousands of US ride-hailing workers plan to park their cars and picket at major U.S. airports Wednesday in what organizers say is their largest strike yet in a drive for better pay and benefits. Uber and Lyft drivers plan daylong strikes in Chicago; Philadelphia; Pittsburgh; Miami; Orlando and Tampa, Florida; Hartford, Connecticut; Newark, New Jersey; Austin, Texas; and Providence, Rhode Island. Drivers also plan to hold midday demonstrations at airports in those cities, according to Justice for App Workers, the group organizing the effort. Rachel Gumpert, a spokesperson for Justice for App Workers, said ride-hailing drivers in other cities may also demonstrate or strike for at least part of the day. Uber said Tuesday it doesn't expect the strike to have much impact on its operations on Valentine's Day. These types of events have rarely had any impact on trips, prices or driver availability, Uber said in a statement. That's because the vast majority of drivers are satisfied. Gump

Lyft guarantees weekly earnings in a bid to lure more drivers

Last year about 15% of Lyft drivers across United States earned less than 70% of what riders paid, after external fees, but Lyft assured to pay difference if drivers made below 70% at end of week

Uber and Lyft to pay $328 million in New York wage theft settlement

Ride-hailing companies Uber and Lyft will pay a combined USD 328 million to settle wage theft claims in New York, Attorney General Letitia James announced on Thursday. James said the settlements resolve investigations into the companies improperly charging drivers sales taxes and other fees when the costs should have been paid by customers. Uber will pay USD 290 million and Lyft will pay USD 38 million. The money will be distributed to current and former drivers, she said. The companies have also agreed to provide drivers outside of New York City with paid sick leave and give drivers outside of New York City a minimum wage of USD 26 per hour. Rideshare drivers work at all hours of the day and night to take people wherever they need to go, James said in a statement. For years, Uber and Lyft systemically cheated their drivers out of hundreds of millions of dollars in pay and benefits while they worked long hours in challenging conditions. Tony West, chief legal officer for Uber, said

Lyft's new CEO David Risher tackles a job requiring some heavy lifting

Even before he joined Lyft's board in 2021, David Risher had taken hundreds of trips as a passenger so he felt like he knew a lot about the ride-hailing service. But he never expected to be thrust into the driver's seat at a time when Lyft was running like a jalopy. I really was gobsmacked, Risher said during an interview with The Associated Press as he recalled being recently asked to replace Lyft co-founder Logan Green as CEO. Risher quickly shook off his initial shock and is now making an effort to reverse the San Francisco company's mounting losses and sagging stock price. Just days after taking over as CEO, Risher came up with a restructuring plan that includes laying off nearly 1,100 employees whose job losses could help him attain stock price incentives potentially worth nearly USD 1 billion. Like any mass layoff, the payroll purge will uproot the lives of those suddenly out of a job while sowing uncertainty among Lyft's remaining 3,000 employees. But Risher believes the deep

Lyft plans 30% staff cut in a fresh round of layoffs to reach profitability

The Wall Street Journal earlier reported the cuts, adding that they could help Lyft slash 50% of its costs

Lyft, Deloitte announce to lay off employees amid global meltdown

According to reports, the layoffs at Uber rival may affect 30 per cent of its 4,000 employees

Lyft plans job cuts, may hit 30% of employees as it struggles over profit

The Wall Street Journal earlier reported the cuts, adding that they could help Lyft slash 50% of its costs

Uber rival Lyft freezes hirings amid economic instability, recession fears

Ride-hailing platform Lyft has announced to freeze all hirings amid the economic instability and recession fears

Microsoft, Google among tech giants to pause hiring amid fear of recession

With recession fears mounting-and inflation, the war in Ukraine and the lingering pandemic taking a toll-many tech companies are rethinking their staffing needs

Toyota acquires US-based Lyft's autonomous car division for $550 million

Toyota is acquiring the autonomous car division of ride-hailing platform and Uber rival Lyft for $550 million, as the self-driving car industry begins to grow

Uber, Lyft to create database to expose abusive drivers ousted from service

The new safeguard, dubbed the "sharing safety program," will be overseen by HireRight, a specialist in background checks

Uber, Lyft agree to share information on banned drivers in safety push

Uber and Lyft oppose the disclosures, arguing they would violate victims' rights to privacy.

Uber, Lyft win California vote to treat drivers as contractual workers

Companies like Uber and Lyft got a major relief in California after a ballot measure went in their favour exempting them from a state law to treat drivers as employees

Uber, Lyft shares soar over 15% after California ballot victory

Uber, Lyft and other ride-hailing apps spent $200 million in a winning bet to circumvent California lawmakers and the courts to preserve their business model by keeping drivers from becoming employees

Californians back Uber proposal to keep gig economy workers as contractors

The ballot proposal by Uber and its allies had sought that app-based food delivery and ride-hail drivers' status should remain 'independent contractors', not be changed to employees

Caifornia court orders Uber, Lyft to classify their drivers as employees

The court affirmed an injunction that was issued on August 10, requiring the two companies to classify their drivers as employees rather than freelancers

Massachusetts sues Uber and Lyft over the status of drivers

The suit, made public on Tuesday, makes Massachusetts the second state after California to challenge how Uber and Lyft classify drivers and could deal another blow to their business model.