Lyft to ‘Significantly’ Cut Jobs in New CEO’s First Major Move

Lyft to ‘Significantly’ Cut Jobs in New CEO’s First Major Move
Lyft logo in an illustration taken on June 27, 2022. Dado Ruvic/Illustration/Reuters
Reuters
Updated:

Lyft Inc. CEO David Risher said on Friday the ride-hailing company will “significantly” cut jobs in another round of layoffs to reduce costs, sending its shares up about 4 percent.

The company declined to provide details on the number of affected staff, but the Wall Street Journal reported earlier in the day the move could impact 30 percent of Lyft’s workforce, or more than 4,000 employees.