Lyft cuts at least 1,200 jobs: report

City says 7,000 summer jobs are available for Boston youth ages 14 to 18

Technique

By Reuters

April 21, 2023 | 12:24 p.m

Ride-sharing company Lyft will cut at least 1,200 jobs in another round of layoffs as it looks to cut costs, The Wall Street Journal reported on Friday, citing sources familiar with the matter.

The report said Lyft could see costs cut in half.

Shares of the company rose more than 4% on the news.

The Wall Street Journal Reports That The Latest Layoffs Could Affect 30% Or More Of Lyft’S 4,000-Plus Employees.

Reuters

The latest layoffs could affect 30% or more of Lyft’s 4,000-plus employees, the report said, adding that the company plans to disclose the move after a board meeting next week.

Lyft did not immediately respond to a Reuters request for comment.