Lyft to downsize, restructure bike and scooter program

SAN FRANCISCO - The public should expect a change in Lyft's bikes and scooters program as the company plans to downsize and restructure.

The rideshare company made the announcement on Wednesday, saying they are "narrowing their product portfolio" to focus on what they call their best-in-class bikes and e-bikes, scooters, electrified docking stations, and software.

For the Bay Area, no changes are being made to the Bay Wheels bike-sharing system.

In their restructuring, standalone dockless bikes and scooters will be cut. Dockless scooters in Washington, D.C. will also be discontinued, and the future of dockless bikes and scooters in Denver is uncertain as the company "explores alternatives."

"Bikes and scooters are core to our purpose and make our company stronger," Lyft said in a statement.

"Riders love our bikes and scooters and we've always expected this part of the business to continue to be a meaningful part of Lyft's offering now and into the future," a Lyft spokesperson told KTVU.

The company shared that rides on their e-bikes are up 65% year to date compared to 2023.

At least one percent, or around 30 of around 3,000 employees, will also be let go at the San Francisco-based company; none include drivers.

In the restructuring, Lyft will boost its operating income by around $20 million on an annual basis by the end of 2024, according to the Securities and Exchange Commission.