Lyft Announces Strategic Restructuring: Sells Bike Business and Cuts Jobs

Lyft has decided to undergo a significant restructuring, in which it will sell part of its bike rental business and cut jobs. This announcement is part of Lyft's efforts to streamline its operations and reduce costs amid growing competition in the transportation market.

According to Lyft representatives, the sale of part of the bike rental business, which has become less profitable, will allow the company to focus on its core areas, such as taxi services and ride-sharing. As a result of this restructuring, Lyft expects a significant reduction in expenses, which should help improve financial performance.

The layoffs will affect employees working in the bike rental division as well as in other areas of the company. Lyft assures that this measure is aimed at increasing efficiency and investing in more promising areas, which should enhance competitiveness in the transportation services sector.

Despite challenging market conditions, Lyft continues to take steps to improve its position among competitors. Analysts emphasize that such moves may be necessary for the company's survival against network rivals and new players actively entering the market.

The ride-sharing and vehicle rental market continues to change, and Lyft is striving to offer its customers higher quality services by optimizing its resources and cutting costs.

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