The ride-hailing firm Lyft had been battling increasing costs due to inflation|Aidna Syakira|CC BY-SA 4.0
Lyft has decided to freeze all hiring through the end of 2022 fearing a recession in the economy, a company spokesperson said.
The ride-hailing firm had been battling increasing costs due to inflation for some time and had laid off 60 employees in July.
The announcement led to a 3.8% decline in Lyft shares in after market trading.