Lyft CEO David Risher says Jeff Bezos's customer obsession became his operating playbook for a hard reset at the ride-hailing company. Risher, who previously worked for Bezos at Amazon, applied that mantra to fix issues like high prices and low driver pay, which he called 'absolute table stakes' for reversing declining market share and customer satisfaction. In his first months, he laid off 26% of the workforce to fund marketplace improvements and restart innovation. The board supported the move after Risher presented a 100-day plan that included the significant reduction in force. Risher credits the customer-focused North Star with driving Lyft's profitable growth.
LYFT IncCEO's strategy of layoffs and customer focus drove profitable growth, as reported.
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