Lyft plans to cut more jobs

Lyft is planning to "significantly reduce" its workforce.

COLUMBIA, S.C. (CNN)—Lyft is planning to “significantly reduce” its workforce—that’s what Lyft CEO David Risher told employees in a company-wide memo on Friday.

According to the Wall Street Journal, the company will cut 1,200 jobs. That would amount to about 30% of Lyft employees.

Drivers are not included in that count. The newspaper reports the ride-share company’s latest round of layoffs is an effort to cut costs.

Late last year, Lyft laid off about 700 people.