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.
Lyft is tapping more drivers to help with delivery of essential itemsThe news comes one day after tech news site The Information reported that rival Uber is weighing significant staff cuts as well. In a statement to CNN Business about the reported layoff discussions, an Uber spokesperson said:"As you would expect, the company is looking at every possible scenario to ensure we get to the other side of this crisis in a stronger position than ever.
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