New Lyft CEO David Risher announces plans to lay off hundreds of workers

Employees were informed via email that a ‘significant’ number would lose their jobs to cut costs and bring fares in line with Uber

Ride-hailing service Lyft is preparing to lay off hundreds of employees just days after new CEO David Risher began steering the company with an eye toward driving down costs to help bring its fares more in line with its biggest rival, Uber.

Risher, a former Amazon executive, informed Lyft’s workforce of more than 4,000 employees in an email posted online Friday that a “significant” number of them will lose their jobs. The message came at end of his first week as Lyft’s CEO.