Lyft to sell some bike, scooter assets

(Reuters) -Ride-sharing platform Lyft (NASDAQ:) said on Wednesday it will sell some assets related to bikes and scooters as part of a restructuring plan to reduce costs.

The move comes after the firm said in July last year it was exploring options for the bikes and scooter unit having received “strong inbound interest”.

The company said it will incur about $34 million to $46 million as part of restructuring and related charges, largely related to asset disposal costs.

Lyft also said it will lay off about 1% of its nearly 3,000 employees, as of the end of last year, as part of the plan.