Lyft to cut 17% of staff and furlough hundreds more due to pandemic [CNNMoney.com]
Lyft, Inc. - Class A (LYFT)
Last lyft, inc. - class a earnings: 2/11 04:05 pm
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Source: CNNMoney.com
Lyft to cut 17% of staff and furlough hundreds more due to pandemic (CNN) Lyft ( LYFT ) plans to cut nearly 1,000 staffers and furlough hundreds more as it grapples with the impact of the ongoing pandemic on people using its ride-hailing services. The company, which went public about a year ago, said in a filing Wednesday that it plans to cut 17% of its workforce, or 982 employees. It has also furloughed about 288 employees on top of that. In the filing , Lyft cited the downsizing as a means of curbing operating expenses and adjusting its cash flow "in light of the ongoing economic challenges resulting from the COVID-19 pandemic and its impact on the company's business." The news comes one day after tech news site The Information reported that rival Uber is weighing significant staff cuts as well. Both companies have a history of steep losses and went through layoffs prior to the pandemic. Lyft has been attempting to shift toward delivery, an area it had not
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LYFT
Earnings
- 11/5/25 - Beat
LYFT
Sec Filings
- 12/23/25 - Form 4
- 12/23/25 - Form 4
- 12/23/25 - Form 4
- LYFT's page on the SEC website