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Lyft to Cut 17% of Workforce, Furlough More, Reduce Salaries (2)

April 29, 2020, 6:55 PM

Lyft Inc. said it will eliminate the jobs of almost 1,000 employees across the company, or about 17% of its workforce, responding to plummeting demand for rides and cratering revenue in the economic slowdown caused by the coronavirus pandemic.

The San Francisco-based company also will furlough about 5% of employees who handle operations that have been suspended during the virus outbreak and cut pay for all employees for the next three months, Lyft said Wednesday in a companywide email. The company also said it will shut down scooter operations in Austin, Texas, and in Oakland and San Jose, California, to ...