Lyft announces 90 layoffs in corporate restructuring effort

Jan. 29 (UPI) -- Ridesharing app Lyft announced on Wednesday that it was laying off 90 people as part of a corporate restructuring effort.

The layoffs came from Lyft's marketing and enterprise sales departments as it shifts from city-by-city marketing groups to regional teams, allowing its enterprise sales group to reconsider which markets it prioritizes.

"We've carefully evaluated the resources we need to achieve our 2020 business goals and the restructuring of some of our teams reflects that," Lyft spokeswoman Alexandra LaManna said. "We are still growing rapidly and plan to hire more than 1,000 new employees this year."

Lyft has 5,500 employees and the layoffs affect about 1.6 percent of its workforce.

The company's CEO, Logan Green, said in October that the company was making progress on plans to become profitable by as early as 2021.

Lyft made its initial public offering in March, exceeding expectations with an $87 debut on the Nasdaq.