Ride-sharing company&nbsp;Lyft&nbsp;will cut at least 1,200 jobs in <a href="https://nypost.com/2022/11/03/lyft-slashing-nearly-700-jobs-in-cost-cutting-push/">another round of layoffs</a> as it looks to reduce costs, <a href="https://www.wsj.com/articles/lyft-to-cut-at-least-1-200-jobs-in-new-round-of-layoffs-to-reduce-costs-da423e53" target="_blank" rel="noreferrer noopener">the Wall Street Journal reported</a> on Friday, citing sources familiar with the matter.

Lyft&nbsp;could see costs slashed by half, the report said. 

Shares of the company rose over 4% on the news.

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</a><figcaption>The latest layoffs could affect 30% or more of&nbsp;Lyft’s over 4,000 employees, The Wall Street Journal reported.</figcaption><figcaption><span class="credit">REUTERS</span></figcaption>

The latest layoffs could affect 30% or more of&nbsp;Lyft’s over 4,000 employees, the report said, adding the company plans to disclose the move after a board meeting next week.

Lyft&nbsp;did not immediately respond to a Reuters request for comment.

The latest layoffs could affect 30% or more of Lyft’s over 4,000 employees, the report said.

Lyft reportedly slashing at least 1,200 jobs in another round of layoffs

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