Lyft (LYFT) is going to cut about 1% of its workforce and is restructuring its bike and scooter business in a bid to reduce its operating costs. The company expects to incur $34 million to $46 million in charges related to the moves.

Market Domination anchors Josh Lipton and Julie Hyman discuss the stock's move in the video above.

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This post was written by Stephanie Mikulich.