The ride-hailing company Lyft Inc. said that it will lay off about 1,072 workers, or 26% of its workforce. This was one of the first things that the company’s new CEO, David Risher, did, and it caused the company’s shares to rise by about 1% on Thursday.
Risher took over the company earlier this month. He recently said that the company will “significantly” cut jobs, but he didn’t say how many.
Lyft will also cut more than 250 jobs and pay between $41 million and $47 million in related costs.