Ride-hailing firm Lyft to sack 683 employees to cut operating expenses
Image Credit: economic times
Ride-hailing platform Lyft is laying off 13 per cent of its workforce, or 683 employees, as it aims to cut operating expenses amid global macroeconomic conditions. According to a filing with the US Securities and Exchange Commission (SEC), Lyft said the cuts are a proactive step to ensure it "is set up to accelerate execution and deliver strong business results in Q4 of 2022 and in 2023".