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Lyft shuts down in-house rentals

I didn’t see this coming. Lyft Rentals is shutting down less than three years after it opens.

Lyft is shutting down its in-house car rental program

Lyft will stop renting out cars from its own fleet and has laid off around 60 employees, according to The Wall Street JournalAs TechCrunch notes, the layoffs have also been confirmed by the LinkedIn posts of affected workers. The people who lost their jobs, The Journal said, worked in operations and covered 2 percent of the company’s workforce. Back in May, the company reportedly wrote in a staff memo that it’s slowing down hiring due to the economic downturn, but that it didn’t have any layoffs planned. Things have clearly changed since then.

Source: Engadget

Lyft Rentals is one of the more affordable options that I see. I thought they were able to make the unit economics work out.

RIP. They will be missed.