Lyft will also eliminate more than 250 open positions in cost-cutting push
said it will lay off about 1,072 employees, or 26% of its work force, in one of the first steps by the new Chief Executive David Risher, sending its shares up by about 1% on Thursday.
Lyft will also eliminate more than 250 open positions and incur about $41 million to $47 million in costs related to severance and employee benefits in the second quarter, it said in an exchange filing.also said it will eliminate three layers of management from 8 to 5 and divide its rideshare business into three core teams.
The money saved from job cuts will be used to support “service-level improvements” for riders and drivers, Lyft said, promising to offer more details in its first-quarter earnings call on May 4.
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