Uber rival Lyft freezes hirings amid economic instability, recession fears

Ride-hailing platform Lyft has announced to freeze all hirings amid the economic instability and recession fears.

The freeze affects all Lyft departments in the US and will last into next year, reports TechCrunch, as the world goes through tumultuous economic times.

“Like many other companies navigating an uncertain economy, we are pausing hiring for all US-based roles through the end of the year,” a Lyft spokesperson was quoted as saying in the report.

The company has already cancelled job interviews this week.

Lyft’s share price has nosedived more than 73 per cent this year.