Ridesharing service Lyft has decided to put a freeze on all employment in the US through the end of 2022, according to The NY Post.
The announcement coincides with a general economic downturn that has caused Lyft’s stock to drop 68% this year.
This week, Lyft began informing potential employees about the hiring freeze.
In May, The Wall Street Journal reported that Lyft was halting hiring and cutting expenditures for some divisions.
But there hadn’t been confirmation of the news until now. According to TechCrunch, Lyft also let go of roughly 60 staff in July.
