Lyft to Cut at Least 1,200 Jobs in New Round of Layoffs to Reduce Costs

Lyft Inc. plans to cut 1,200 or more jobs in a new round of layoffs as the ride-sharing company aims to reduce costs, according to people familiar with its plans.

The latest cuts could affect 30% or more of Lyft’s more than 4,000 employees, the people said, and the company had planned to announce the move after a board meeting next week. The cuts could help Lyft reduce 50% of its costs, some of the people said. Lyft doesn’t count its drivers as employees.