Lyft lays off around 60 employees, puts together their rental cars for cyclists

Lift Inc. has thrown out about 60 people as they step on the brakes to rent out their cars to cyclists and consolidate their global operations team, according to people familiar with the matter and an employee memo reviewed by The Wall Street Journal.

The cuts covered less than 2% of staff and mainly affected employees who worked in operations, the people said. In a note to some employees that was sent on Tuesday, the company said that it folded the part of the business that allowed consumers to rent their car fleet on the app.