---
schema_version: "secwatch.filing_event.v1"
accession: "0001759509-23-000036"
form_type: "8-K"
ticker: "LYFT"
cik: "0001759509"
company_name: "Lyft, Inc."
filed_at: "2023-04-27T23:59:59+00:00"
generated_at: "2026-06-16T09:14:55.136318+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Lyft to lay off 1,072 employees (26% of workforce) as part of restructuring plan

## Summary
- Terminates ~1,072 employees (26% of workforce); also eliminates over 250 open positions.
- Expects $41M-$47M in severance & benefits costs in Q2 2023, all cash; additional stock-based compensation costs to be determined.
- Restructuring costs excluded from Adjusted EBITDA; savings intended to fund service improvements for riders and drivers.
- Further details to be provided on May 4, 2023 Q1 earnings call.

## SEC filing metadata
- accession: 0001759509-23-000036
- form_type: 8-K
- ticker: LYFT
- cik: 0001759509
- company_name: Lyft, Inc.
- filed_at: 2023-04-27T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.05
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1759509/000175950923000036/0001759509-23-000036-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1759509/000175950923000036/lyft-20230427.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001759509-23-000036
- JSON: https://secwatch.observer/filing/0001759509-23-000036.json
- Plain text: https://secwatch.observer/filing/0001759509-23-000036.txt

## Key facts
- Restructurings & Charges
  Lyft, Inc. announced a restructuring with charges of approximately $41 million to $47 million (approximately 1,072 employees, representing 26% of the Company’s employees).
  - Type: restructuring
  - Charge: approximately $41 million to $47 million
  - Headcount: approximately 1,072 employees, representing 26% of the Company’s employees
  source text: On April 27, 2023, Lyft, Inc. (the “Company”) announced a restructuring plan as part of its efforts to reduce operating costs. The plan involves the termination of approximately 1,072 employees, representing 26% of the Company’s employees. The Company has also decided to scale back hiring and has eliminated over 250 open positions. In connection with the plan, the Company estimates that it will incur a cost of approximately $41 million to $47 million related to severance and employee benefits in the second quarter of 2023, all of which will be future cash expenditures.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1759509/000175950923000036/0001759509-23-000036-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.