Lyft Completes Freenow Acquisition, Isn’t Planning to Cut Staff

Lyft Inc. has successfully completed the acquisition of the European taxi app Freenow, paving the way for the US rideshare company to expand its operations into the European market. The acquisition has received the necessary regulatory clearance, allowing Lyft to integrate Freenow's services and infrastructure into its own platform. The move is seen as a strategic decision by Lyft to diversify its business and tap into the growing European mobility market. Freenow operates in multiple European countries, providing ride-hailing services to customers. Notably, Lyft has stated that it does not plan to cut staff as a result of the acquisition. The company aims to leverage Freenow's existing workforce and expertise to enhance its overall service offerings and customer experience. The acquisition is expected to contribute to Lyft's growth and revenue generation, as the company seeks to strengthen its position in the competitive ride-sharing industry.