Lyft reduces staffing and mandates return of some employees to the office

Lyft is cutting 26% of its workforce and scaling back of open positions to save up to $47 million.
Lyft's new CEO announced plans to streamline the business and refocus on core needs of riders and drivers.
Lyft employees have worked remotely during the pandemic but will now need to work in the office 3 days a week starting in the fall.
The decision comes as Lyft faces competition from rival Uber in an economic downturn.
The CEO's plan involves improving Lyft's core service of providing rides at lower prices.