Lyft shares plunge nearly 25% after revenue forecast came in below estimates

Reuters — Elevator (ELEVATOR) on Thursday forecast current-quarter revenue below Wall Street’s estimates, blaming extreme cold weather in some major markets and lower prices, especially during peak hours, that sent its stock down nearly 25% in extended trading. The company’s outlook differed from that of its larger competitor, Uber. (UBER)whose strong worldwide presence is helping


lyft: Lyft to lay off 683 employees to cut costs

backlash Inc said Thursday it will lay off 13% of its workforce, or about 683 employees, as part of the company’s latest cost-cutting move to deal with the weakening economy. As decades of high inflation weighs on consumer spending and increases costs for businesses, companies across sectors are cutting jobs and cutting operations to maintain