Lyft to cut 1,072 employees, or 26% of its workforce

Ride-hailing app Lyft will lay off 1,072 employees, roughly 26% of its corporate workforce, and won’t hire for an additional 250 positions, the company said in an SEC filing Thursday.

The news comes a week after a memo from new Lyft CEO David Risher confirmed that the company would trim its head count.

Lyft shares were largely flat on the news. The company has around 4,000 employees and had already