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Lyft to cut 1,000 jobs
Ride-hailing app Lyft is set to lay off more than 1,000 corporate employees.
In a SEC filing Lyft said 1,072 jobs will be cut, which equates to about 26% of its corporate workforce.
Also, it won’t hire for an additional 250 open positions.
It is part of cost cutting measures implemented by new Lyft CEO David Risher.
It doesn’t affect any of its drivers.
Lyft said it will cost up to $47 million in severance and employee benefit payouts.
The company announces its first-quarter earnings results next week.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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