Lyft to cut 13% of workforce in attempt to trim costs

Associated Press

The ride-hailing service Lyft is cutting 13% of its workforce, nearly 700 employees, as it tries to lower operating expenses. The company said in a regulatory filing that it anticipates incurring approximately $27 million to $32 million in restructuring and other charges related to employee severance and benefits costs. The charges are expected in the fourth quarter.