: Lyft job cuts total 1,072, or 26% of workforce

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Lyft Inc. LYFT on Thursday disclosed more details about layoffs reported last week. In a filing with the Securities and Exchange Commission, the ride-hailing company said it is laying off 1,072 employees, or about 26% of its workforce, and has eliminated more than 250 open positions. It will incur costs of $41 million to $47 million for severance and other employee benefits in the second quarter, the company said. Lyft also expects to incur other costs associated with stock-based compensation and payroll tax expenses, and said it will disclose those in an amended filing in the second quarter. The company is scheduled…

This article was originally published by Marketwatch.com. Read the original article here.

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