Ride-hailing service Lyft is cutting 13% of its workforce, almost 700 employees, as it attempts to reduce operating expenses.
The San Francisco-based company said in a regulatory filing that it anticipates incurring approximately $27 million to $32 million in restructuring and other charges related to employee severance and benefits costs. The charges are expected in the fourth quarter.
Lyft Inc., whose sales growth has been shrinking over the past year, will report its third-quarter financial results on Monday.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
No, Dropbox ‘Hacker’ Hasn’t Stolen Passwords Or Data Of 700 Million UsersAs news breaks of Dropbox apparently falling victim to hackers in October, here's what actually happened.
Read more »
Ripple Gets 300 Million XRP from Anon Wallet, Locks 700 Million in Escrow.Ripple locks 700 million $XRP in escrow without releasing a billion XRP first. XRParmy
Read more »
No, Dropbox ‘Hacker’ Hasn’t Stolen Passwords Or Data Of 700 Million UsersAs news breaks of Dropbox apparently falling victim to hackers in October, here's what actually happened.
Read more »
Dow Falls 700 Points As Powell Says There’s A ‘Ways To Go’ For Rate Hikes“At first glance, it was looking like Christmas might have come early for Wall Street,” one analyst said about stocks’ brief rally before Fed chair Jerome Powell pulled the rug on investors.
Read more »
SLC’s new towering hotel and its restaurants are now open. Take a photo tour.Next to the Salt Palace, the long-awaited skyscraper is meant to boost the city’s convention business and offer Utahns a new place to frequent.
Read more »
Lyft announces layoffs of 13% of workforce in anticipation of recessionRideshare company Lyft plans to announce layoffs for 13% of its workforce, or 700 employees, in a company meeting Thursday morning, stating the company was preparing for a recession and other challenges.
Read more »