Associated Press
- Lyft has lowered ride prices after laying off over 1,000 corporate employees this spring.
- As a result, it has claimed some market share from rival Uber, the Wall Street Journal reported.
- Both Lyft and Uber have raised ride prices significantly over the last several years.
Lyft's layoffs this spring may be one of the reasons your ride is cheaper than usual.
In April, Lyft laid off just over 1,000 employees or about a quarter of its corporate workforce. Part of the company's justification for eliminating those jobs was to use the money to lower fares for riders and compete with Uber.