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Lyft is still around. They aren't going out of business. They are just consolidating their workforce. Remember that Uber has had 2 rounds of layoffs already I
by jacurtis 3y ago
Lyft is still around. They aren't going out of business. They are just consolidating their workforce.
Remember that Uber has had 2 rounds of layoffs already I think. One was for 16% of their workforce and another was for 5-6%. So it isn't a whole lot different. I wouldn't expect anything to change. Facebook has had 4-5 rounds of layoffs and Instagram and Facebook aren't going anywhere.
- SeanAnderson 3y agoI appreciate the optimism! I am not as confident. It's true that Uber has laid off people, but, according to layoffs.fyi, all of their post-covid layoffs have occurred either outside of the U.S. or applied to Uber Freight. Uber had two rounds of layoffs in SF during 2020 for 14% and 13% of their workforce. Nothing since. (source: https://i.imgur.com/MqNYdhT.png https://i.imgur.com/MqNYdhT.png) In contrast, SF Lyft has gone through four rounds of layoffs: 17% in 2020, 2% + 13% in 2022, and 26% in 2023. If Uber cuts their SF workforce by 25% in the next month or so then I'll feel better about the mutual competition. Otherwise, my stance remains that they're entering into the winner-take-all phase of their strategy.