TransportationIndustry

Major Shake-Up at Car Rental Startup Turo: 15% Workforce Reduction After Delayed IPO

2 months ago

In a significant move reflecting the challenges faced by the car rental sector, Turo, a popular car-sharing platform, has announced a substantial reduction in its workforce, laying off 15% of its employees. This decision comes in light of a stalled initial public offering (IPO) that the company had been eagerly preparing for.

Lyft Faces Uncertain Future with 'Sell' Rating Amidst Rising Uber Competition

3 months ago

In a stark warning to investors, Arete Research has issued a solitary 'sell' rating for Lyft, signaling heightened concerns over the company's competitiveness in a rapidly evolving market dominated by Uber. This reevaluation comes in light of Lyft's ongoing struggles to retain market share as the transportation sector undergoes dramatic shifts fueled by changing consumer preferences and aggressive strategies from its rival, Uber.

NYC Pushes for Pay Increase to Resolve Uber and Lyft Driver Lockouts

5 months ago

In a significant move to address the ongoing challenges faced by rideshare drivers in New York City, city officials have proposed a new initiative aimed at mitigating the frequent lockouts experienced by drivers for companies like Uber and Lyft. These lockouts have posed a severe disruption to drivers’ livelihoods, prompting the city to take action by increasing their hourly pay rates.