Lyft announced plans to lay off 1,072 employees, some 26% of its corporate headcount, putting an official number to the cut announced last week.
The ride-sharing app also said it would not hire for another 250 positions, according to an SEC filing.
CEO David Risher, who stepped into the role earlier this month, has said his goal is to streamline operations and get back to “better meeting the needs of riders and drivers.”
Lyft stock was little changed Thursday afternoon, rising 0.2% to $10.07.
That may be because investors had already priced in the latest cost-cutting measure, which followed a 13% cut in November.
Lyft is expected to report first-quarter results on May 4 after the closing bell.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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