Key Takeaway
Lyft has confirmed it will not cut FREENOW’s workforce of about 600 employees after the acquisition. Instead, the focus will be on growth, leveraging the strengths of both companies to expand their market. Lyft aims to enhance FREENOW’s European ties and innovate services for drivers and passengers. CEOs from both companies emphasize the alignment of their missions and the potential to double Lyft’s addressable market to over 300 billion personal vehicle trips annually. The acquisition is seen as an opportunity for collaboration and improvement rather than a cost-cutting measure.
How the transition will work
Lyft has confirmed that it does not plan to reduce FREENOW’s workforce of approximately 600 employees following the acquisition.
“We will have certain areas connecting North America and Europe where we may need additional personnel,” Jeremy explains.
“However, the goal is to take the existing two organizations and grow both the overall top line and bottom line with the current team.”
This approach indicates that Lyft sees the acquisition as a growth opportunity rather than a cost-cutting measure—a sentiment shared by both companies’ CEOs.
“Two companies, one aligned mission, and the incredible opportunity to double Lyft’s current addressable market to over 300 billion personal vehicle trips per year,” says Thomas Zimmerman, CEO of FREENOW.
“We’re enhancing FREENOW’s unique strength: our strong local ties in Europe. With Lyft’s support, we can accelerate innovation and improve services for drivers, passengers, and cities.”
“This is a proud day for our teams on both sides of the Atlantic, especially for the FREENOW team, who have worked tirelessly to reach this point.”
“Every conversation I’ve had with FREENOW drivers and team members has reinforced why we’re joining forces: to bring the best of each company to the other,” says David Risher, CEO of Lyft.
