TransportationUS

Lyft Layoffs

April 2023

Lyft announced a layoff affecting 1,072 employees (26% of its workforce) in April 2023. The company operates in the Transportation sector.

People Affected

1,072

Percentage

26%

Announced Date

Apr 21, 2023

About

Ride-hailing company Lyft is laying off 1,072 employees, which represents about 26% of its corporate workforce, as part of a broader restructuring effort. The cuts, confirmed in an SEC filing in late April 2023, follow a previous 13% reduction in November 2022. New CEO David Risher, who began his tenure earlier that month, stated the move aims to streamline operations and refocus on better serving riders and drivers. With approximately 4,000 total employees, this significant reduction reflects ongoing pressures in the tech industry, where many companies are prioritizing efficiency amid economic challenges. Lyft's stock has struggled since its IPO, and the layoffs coincide with the company not filling an additional 250 open positions.