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The latest announcement is out from Lyft (LYFT).
Lyft, Inc. is streamlining its business by restructuring its bikes and scooters segment, which includes asset disposal and laying off about 1% of its workforce. The move is expected to incur charges up to $46 million, predominantly non-cash, and is anticipated to enhance annualized Adjusted EBITDA by $20 million by 2025 through savings and operational improvements. Despite these changes, Lyft maintains its financial projections for the third quarter and full year of 2024 as well as its long-term targets for 2027. More details will be shared in the upcoming earnings call.
Find detailed analytics on LYFT stock on TipRanks’ Stock Analysis page.