Ride-share company Lyft announced Thursday that it has plans to slash its total headcount by 13%, with approximately 683 workers being impacted.
The Lyft employees affected by the layoffs announced Thursday will receive at least 10 weeks of pay, with those who worked at the company for more than four years getting an additional four, according to the memo. They will also getIn September, Lyft spokesperson Ashley Adams told FOX Business that the ride-share company was"pausing hiring for all U.S.-based roles through the end of the year.
Lyft expects the layoffs to come with roughly $27 million to $32 million in costs "related to employee severance and benefits costs," it said in an SEC filing.The company also has plans to sell its first-party vehicle service business amid its cost-cutting efforts, Green and Zimmer said. Workers with roles in that segment are expected to get positions with the company that takes it over, according to the memo.," the Lyft co-founders said.
Lyft’s outlook for its third quarter remains unchanged, according to the company. It is scheduled to release
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