Lyft lays off 17% of workforce, furloughs hundreds more [CNBC]
Lyft, Inc. - Class A (LYFT)
Last lyft, inc. - class a earnings: 2/11 04:05 pm
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Source: CNBC
Lyft President John Zimmer (R) and CEO Logan Green speak as Lyft lists on the Nasdaq at an IPO event in Los Angeles March 29, 2019.Mike Blake | Reutersregulatory filingLyft stock was up nearly 4% Wednesday afternoon, amid a broader market rally thanks to a study from drug maker Gilead that showed promising results for antiviral drug remdesivir in Covid-19 patients.The layoffs account for 17% of the company's workforce, Lyft said. Lyft also has implemented reductions in base salary for employees exempt from the layoffs and furloughs for a twelve week period. The salary cuts, which begin in May, will consist of a 30% reduction for executive leadership, 20% for vice presidents and 10% for all other exempt employees, Lyft said.Lyft said it expects to incur approximately $28 million to $36 million of restructuring and related charges from the layoffs, primarily related to employee severance and benefits. The company said that will mostly impact its second quarter. Lyft's board member's wil
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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