According to documents filed with the Securities and Exchange Commission Thursday by CFO Elaine Paul, rideshare company Lyft is planning to lay 26% of its workforce, equivalent to 1,072 employees.
The document also states the company had eliminated 250 open positions.
Filings said the company expected to pay up to $47 million in severance packages plus more in stock-based compensation due to the job cuts.
The lay-off does not include drivers.
This news comes after CEO David Risher said a “significant” number of employees would lose their jobs” a week ago.
Lyft’s last layoff happened in November 2022, when the company let go 13% of its workforce.