Lyft freezes all US hiring amid stock slump, economic downturn

Journey-sharing app Lyft is freezing all hiring within the US via the tip of 2022, The Publish has realized.

The information comes amid a broader financial droop that has despatched Lyft’s inventory tumbling 68% this yr.

Lyft spokeswoman Ashley Adams confirmed the hiring freeze in an announcement to The Publish.

“Like many different corporations navigating an unsure financial system, we’re pausing hiring for all U.S.-based roles via the tip of the yr,” Adams stated.

After The Publish reported the hiring freeze, Lyft shares fell 3.8% in after market buying and selling.”

Lyft began notifying job candidates of the hiring freeze this week.

The Wall Road Journal reported in Could that Lyft was slowing hiring and slashing some departments’ budgets, however the full hiring freeze has not been beforehand reported.

Lyft additionally laid off about 60 staff in July, TechCrunch reported.

Journey-sharing rival Uber additionally stated it was slowing hiring in Could however has not introduced a freeze. Uber shares are down 37% thus far this yr.

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