Lyft is reportedly slashing 1,200 jobs — at least 30% of its staff. It's struggling to keep up with Uber.

• Lyft plans to cut 1,200 jobs in an attempt to reduce costs, according to the Wall Street Journal.
• The cuts come days after Lyft's new CEO, David Risher, officially assumed the role. 
• Lyft lost market share to ride-hailing rival Uber during the pandemic.

Ride-hailing company Lyft is planning to cut 1,200 jobs, the Wall Street Journal reported Friday, citing people familiar with the company's plans.