Lyft to lay off 982 workers, cut salaries due to virus outbreak [Reuters]
Lyft, Inc. - Class A (LYFT)
Last lyft, inc. - class a earnings: 2/11 04:05 pm
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Source: Reuters
Lyft to lay off 982 workers, cut salaries due to virus outbreak (Reuters) - Lyft Inc said on Wednesday it plans to lay off 982 employees, or 17% of the company’s workforce, and implement pay cuts due to economic challenges caused by the coronavirus pandemic. The company’s shares were up 5% in afternoon trading. The ride-hailing business has suffered a near-total collapse as large parts of the United States remain shut to combat the spread of the virus. Rival Uber Technologies Inc is also discussing plans to cut around 20% of its staff following the virus outbreak, The Information reported on Tuesday. Lyft said it will cut base salaries by about 30% for top executives, 20% for vice presidents and 10% for the rest, for a twelve week period beginning in May, in addition to furloughing 288 employees. ( bit.ly/2KG7iXs ) The company said it estimates to incur about $28 million to $36 million of restructuring charges, primarily related to the layoffs, according to a regulatory filing. Lyft d
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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