Extracted from this filing and checked against the source text.
Restructurings & Charges
SEC 8-K Item 2.05/2.06
confidence 0.95
Lyft, Inc. announced a restructuring with charges of $34 million to $46 million of restructuring and related charges affecting bikes and scooters transportation mode (termination of approximately 1% of the Company's employees).
- Type
- restructuring
- Charge
- $34 million to $46 million of restructuring and related charges
- Affected area
- bikes and scooters transportation mode
- Headcount
- termination of approximately 1% of the Company's employees
Exact text from the filing
On September 4, 2024, Lyft, Inc. (the “Company”) announced a restructuring plan related to its bikes and scooters transportation mode as part of its efforts to align strategic priorities and to reduce operating costs. The plan involves the disposal of certain assets related to the bikes and scooters operations and the termination of approximately 1% of the Company’s employees. In connection with the plan, the Company estimates that it will incur approximately $34 million to $46 million of restructuring and related charges, of which $32 million to $42 million are related to asset disposal costs with the remaining costs related to employee severance and benefit costs, and advisory fees.
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