The company, which is slated to report third-quarter results on Monday, said the layoffs would not impact its previously issued forecast for the period. It expects revenue of $1.04 billion to $1.06 billion and adjusted core profit of $55 million to $65 million.
The San Francisco, Calif.-based company’s shares were down 1 percent.
“The announced reduction in force is a proactive step as part of the company’s annual planning,” Lyft said in a statement.
Companies such as Lyft and Uber Technologies Inc., which rely on gig workers, have lately faced concerns that a Labor Department proposal seeking to limit the use of independent contractors could drive up costs.
But experts believe that legal challenges and business groups lobbying for changes could derail the Biden administration’s efforts.
