Lyft Pauses Hiring, Budgets to Beat Slowdown Following Uber’s Footsteps

Lyft Pauses Hiring, Budgets to Beat Slowdown Following Uber’s Footsteps
The Lyft logo on Lyft bike share bicycle in San Francisco on Aug. 12, 2020. Justin Sullivan/Getty Images
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Lyft, Inc. looks to slow hiring, reducing some of its departments’ budgets and granting new stock options to some employees to make up for its share price fall, the Wall Street Journal reports.

Lyft joined rival Uber Technologies, Inc. in outlining cuts as investor optimism cooled on tech stocks.