Uber, Lyft Cut Costs as Fewer People Take Rides Amid Coronavirus Pandemic

Uber Technologies Inc. and smaller rival Lyft Inc. are bracing for a new reality in ride-hailing: fewer passengers for the foreseeable future.

Uber said Wednesday it is cutting about 14% of its workforce and smaller rival Lyft, which cut about 17% of its staff last week, is responding to the coronavirus pandemic with aggressive cost cutting to ride out the exceptional challenge to their businesses.

Lyft…


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