Ride-sharing firm Lyft to cut 1,200 jobs

Ride-sharing company Lyft plans to reduce about 1,200 jobs.

CEO David Risher announced the downsizing that could affect about 30% of the company’s workforce in an email about a week into his stint at the helm of the company.

The layoffs would impact at least 1,200 employees, around 30% of the company’s 4,000-person workforce, the Wall Street Journal reported. However, a company spokesperson refused to confirm the numbers, according to a CNBC report.

“I’m confirming that we will significantly reduce the size of the team as part of a restructuring to focus on better meeting the needs of riders and drivers,” Risher’s email to the staff said after moving from Amazon to Lyft.