Sept 4 (Reuters) - Lyft ( LYFT ) will sell some assets

related to its bike and scooter rental operations and cut jobs,

the ride-sharing service provider said on Wednesday, as part of

a restructuring plan to rein in costs.

The company, which offers the popular Citibike service in

New York City and runs similar operations in other U.S. cities,

had in July 2023 said it was exploring options for the unit

after having received "strong inbound interest".

Lyft ( LYFT ) did not provide details on the operations it would

retain, but disclosed about $34 million to $46 million in

charges, largely related to asset disposal costs.

The company will lay off about 1% of its nearly 3,000

employees at the end of last year, as part of the plan.

Cost savings from the restructuring, improved operations,

and better sales strategies will help boost adjusted operating

income by about $20 million on an annual basis by the end of

next year, the company said.

Lyft ( LYFT ) last month forecast a weak September quarter, raising

concerns about the company's ability to cope with intense

competition from Uber Technologies ( UBER ).

CEO David Risher has slashed jobs, as well as rolled out

enhanced driver earnings and new programs to drum up ride share

demand since he joined Lyft ( LYFT ) early last year.

(Reporting by Akash Sriram in Bengaluru; Editing by Krishna

Chandra Eluri and Sriraj Kalluvila)