Lyft to lay off 982 workers, cut salaries due to virus outbreak

(Reuters) - Lyft Inc said on Wednesday it plans to lay off 982 employees, or 17% of the company's workforce, and implement pay cuts due to economic challenges caused by the coronavirus pandemic.The company's shares were up 5% in afternoon trading.The ride-hailing business has suffered a near-total collapse as large parts of the United States remain shut to combat the spread of the virus.Rival Uber Technologies Inc is also discussing plans to cut around 20% of its staff following the virus..