{"id":1661044,"date":"2022-09-27T19:05:17","date_gmt":"2022-09-27T23:05:17","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1661044"},"modified":"2022-09-27T19:06:02","modified_gmt":"2022-09-27T23:06:02","slug":"ride-hailing-firm-lyft-slams-brakes-on-u-s-hiring-as-recession-fears-mount","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ride-hailing-firm-lyft-slams-brakes-on-u-s-hiring-as-recession-fears-mount\/","title":{"rendered":"Ride-hailing firm Lyft slams brakes on U.S. hiring as recession fears mount"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fride-hailing-firm-lyft-slams-brakes-on-u-s-hiring-as-recession-fears-mount%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1661044&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>(Reuters) -Lyft Inc is freezing all hiring in the United States through the end of the year, a company spokesperson said on Tuesday, making the ride-hailing firm the latest to pause recruitment as high inflation forces cost-cutting measures.<\/p>\n<p>The company, which in July cut nearly 60 jobs in its rental division, has been battling surging expenses as U.S. inflation reaches levels not seen in four decades. As of June 30, Lyft had nearly 5,000 employees, according to its latest quarterly filing with the Securities and Exchange Commission.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>San Francisco, California-based Lyft said its costs jumped 36% in its most recent quarter.    <\/p>\n<p>Several tech companies have been forced to slash headcount in recent months, with Lyft\u2019s larger rival Uber Technologies Inc also scaling back hiring and cutting marketing spend.<\/p>\n<p>Lyft posted a record quarter in August on the back of soaring demand for rides and gains from its cost-cutting efforts.<\/p>\n<p>However, the company warned challenges would persist in the third quarter due to high insurance costs, macroeconomic uncertainty and inflation.<\/p>\n<p>A broad sell-off in markets due to red-hot inflation and fears of a looming recession have crushed risky assets this year. As of Tuesday\u2019s close, Lyft\u2019s stock has dropped over 68% in 2022.<\/p>\n<p>The hiring freeze plans were first reported by the New York Post.<\/p>\n<p> (Reporting by Niket Nishant in Bengaluru; Editing by Krishna Chandra Eluri)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/tech\/ride-hailing-firm-lyft-freezes\/attachment\/file-photo-the-lyft-logo-is-seen-in-los-angeles\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/tagreuters.com2022binary_LYNXMPEI8Q11D-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI8Q11D-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Reuters) -Lyft Inc is freezing all hiring in the United States through the end of the year, a company spokesperson said on Tuesday, making the ride-hailing firm the latest to<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1661044","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1661044","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1661044"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1661044\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1661044"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1661044"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1661044"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}