Lyft will cut around 1,200 jobs - around 30 percent of its entire workforce - in order to reduce its costs by around 50 percent.It comes just three weeks after the company announced it would hire a new CEO, David Risher, and that its two co-founders, Logan Green and John Zimmer, would resign. The ride-sharing apps stock price tanked by around 70 percent in the last year as its struggled to capture the market from .
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