Lyft to lay off 982 workers, cut salaries due to virus outbreak [Toronto Globe and Mail (Ontario, Canada)]
Lyft, Inc. - Class A (LYFT)
Last lyft, inc. - class a earnings: 2/11 04:05 pm
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Source: Toronto Globe and Mail
Lyft to lay off 982 workers, cut salaries due to virus outbreak Lyft shares were up 5 per cent in afternoon trading. BRENDAN MCDERMID/Reuters Lyft shares were up 5 per cent in afternoon trading. Lyft Inc. said on Wednesday it plans to lay off 982 employees, or 17 per cent 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 per cent 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 per cent of its staff following the virus outbreak, The Information reported on Tuesday. Lyft said it will cut base salaries by about 30 per cent for top executives, 20 per cent for vice presidents and 10 per cent for the rest, for a twelve week period beginning in May, in addition to furloughing 288 employees. The company said it
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LYFT
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LYFT
Earnings
- 11/5/25 - Beat
LYFT
Sec Filings
- 12/5/25 - Form 4
- 12/4/25 - Form 144
- 12/4/25 - Form 144
- LYFT's page on the SEC website