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.

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Emirates to start Dubai-Tel Aviv daily flights

Dubai: It emerged on Thursday that Emirates will be starting daily flights…