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Lyft joins Uber in 'significantly' slowing hiring and cutting budgets, but promises no layoffs: WSJ

1 month ago   |   By Business Insider

Associated Press
Lyft said in a memo that it would slow hiring and cut budgets, the Wall Street Journal reported.
Earlier this month, its rival Uber announced similar plans for a hiring freeze.
The two apps are finding it difficult to retain drivers on their platforms.
Lyft will be scaling back on hiring and reducing budgets amid concerns of an economic slowdown, but it's stopping short of firing workers, the Wall Street Journal reported on Tuesday. The rideshare startup joins a growing list of tech companies that are finding it more challenging to be profitable. "Given the slower than...
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