Lyft to cut nearly 1,000 jobs

As part of a “plan of termination,” San Francisco ride-hailing giant Lyft will lay off 982 workers to cut costs amid damage from the coronavirus pandemic, the company said in a regulatory filing Wednesday.The employees to be laid off amount to 17% of Lyft’s workforce, it said in the filing with the Securities and Exchange Commission. Lyft does not classify its army of drivers as employees.Cost-cutting efforts have also led the company to furlough about 288 workers and cut base salary by 20% to 30% for executives, while Lyft’s board has agreed to forego 30% of their cash compensation for the se…

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