Lyft Q1 earnings: Losses mount as the ride-hailing service slashes revenue forecasts
After laying off a quarter of its workforce, Lyft unveiled a Q1 loss that was even larger than investors had feared.
Lyft began the year mired in the same ditch it ended in last year, with its ride-hailing service struggling to recover from a pandemic-driven downturn that triggered a change in leadership and layoffs that wiped out a quarter of its workforce.
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