Lyft is halting its U.S. hiring for the rest of the year.
Like many other companies navigating an uncertain economy, Ashley Adams, a spokesman for Lyft, told FOX Business on Wednesday that we are pausing hiring for all U.S. based positions through the end of the year.
The Wall Street Journal reported that Lyft had previously said it would cut 60 workers, reduce its global operations team and shutter its car-rental business. According to its most recent quarterly report, the company employed 5,000 at the end of June.
Some companies have announced layoffs or hiring freezes or slowdowns in the past due to fears of a potential recession.
In an email to staff in May, the chief executive of Uber, a ride-hailing competitor of Lyft, said in May that the company would treat hiring as a privilege and be deliberate about when and where we add headcount. Snap Inc., Facebook, Meta, Netflix and Peloton are some of the companies that have said they will reduce workforces or alter hiring efforts, according to FOX Business previously reported.
According to the National Bureau of Economic Research, recessions are defined by two back-to-back quarters of negative economic growth characterized by slow retail sales, high unemployment, falling income and low or negative GDP grown. The U.S. gross domestic product fell in the first two quarters of 2022.