Baller Alert Entertainment & Lifestyle
Shares tanked Wednesday after The Post reported that Lyft and Uber had implemented a hiring freeze.
About an hour before the market began, Lyft shares were down 3.2%, and Uber was down 1.2%.
Stocks began to drop following The Post Tuesday report that claimed Lyft would not be hiring until the end of 2022.
“Like many other companies navigating an uncertain economy, we are pausing hiring for all US-based roles through the end of the year,” Lyft spokesperson Ashley Adams said.
Although Uber did not announce a complete employment freeze, it stated in May that it was limiting hiring and making cuts to withstand an economic slump.
Following its announcement, Lyft laid off several employees in July.
