Lyft will send an email to its employees with details on employment status on April 27, by 8:30 am Pacific Time / 8:30 am local time in Eastern Europe. Lyft is scheduled to report its first quarter 2023 financial results on Thursday, May 4, 2023. The company in November laid off about 683 employees, or 13 percent of its then workforce, to cut costs and cope with stiff competition from bigger rival Uber Technologies in a tough economy. Uber and Lyft have been locked in a battle for market share coming off the pandemic lows, and investors worry that Lyft's price cuts to avoid being a distant second in the North American ride-sharing market would squeeze its profits. 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.