(Reuters) -Lyft Inc CEO David Risher said on Friday the ride-hailing company will "significantly" cut jobs in another round of layoffs to reduce costs, sending its shares up about 4%. Lyft could see costs slashed by half after the layoffs, the WSJ report said. The companies' last reported results showed that Uber's global presence and more diversified businesses were giving it an edge over U.S.-focused Lyft. Lyft's stock had fallen about 11% this year, compared with Uber's price gain of 27.5%, as of Thursday's close. (Reporting by Akash Sriram and Aditya Soni in Bengaluru; Editing by Anil D'Silva and Shinjini Ganguli)

Source: Wall Street Journal April 21, 2023 16:27 UTC