Lyft layoffs to affect 26% of workforce

Lyft said Thursday it will cut 26% of its workforce, or about 1,072 people, as part of a restructuring plan aimed at rebuilding its core ride-hailing product and boosting profits.
The company also said in a regulatory filing Thursday that it decided scale back hiring plans and will eliminate 250 open job positions.
Lyft estimates that it will incur a cost of about $41 million to $47 million related to severance and employee benefits in the second quarter of 2023. The ride-hailing company also said it expects additional costs related to stock-based compensation and the corresponding payroll tax

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