Ride-sharing titan Lyft recently announced its decision to cut 26% of its workforce, which is roughly 1,072 employees, in an effort to lower operating expenses. When the 13% reduction in its workforce from November is factored in, the company has cut 36% of its staff in roughly six months.
“The plan involves the termination of approximately 1,072 employees, representing 26% of the Company’s employees. The Company has also decided to scale back hiring and has eliminated over 250 open positions,” the company said during a regulatory filing on April 27, 2023.
The filing revealed that Lyft expects incurring roughly $41 million […]
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