Lyft to lay off over thousand workers

- Business - April 27, 2023

Ride-hailing firm Lyft Inc (LYFT.O) said on Thursday it would lay off about 1,072 employees, representing 26% of the company’s workforce, as part of a retrenchment plan. Chief Executive Officer David Risher had said last week that the company will “significantly” cut jobs, without providing details on the number of affected staff. Lyft, which will also eliminate over 250 open positions, will incur about $41 million to $47 million in costs related to severance and employee benefits.