Ride-hailing platform Lyft sacks 1,072 employees or 26% of its workforce as part of restructuring

Lyft has announced it will slash 26 per cent of its workforce, or nearly 1,072 people, as part of a restructuring plan. The company has also paused hiring plans and will eliminate 250 open job positions. "Lyft announced a restructuring plan as part of its efforts to reduce operating costs. The plan involves the termination of approximately 1,072 employees, representing 26 per cent of the company's employees," it said in a US SEC filing.