As the latest in a string of recent layoff announcements from tech-related companies, Lyft has stated it will be eliminating 90 jobs in its marketing and enterprise sales operations.
The layoffs in marketing are reportedly aimed to consolidate city-focused teams into regional groups – something we’ve been seeing in many other fast-growth companies as of late. The pressure to shift away from cash burning to profits is forcing the hand of executives to make cutbacks wherever they can.
As I’ve reported earlier, it’s not just marketing staff reductions that are highly likely as a result. Marketing leadership itself it also at risk, especially for new or recently minted CMOs (Chief Marketing Officers).