Lyft Inc said in May it will slow down hiring and assess budget cuts in some departments. Elon Musk spooked investors on Friday with a warning on the economy and plans to cut Tesla’s workforce, joining a growing list of companies that have dialed back hiring amid decades-high inflation and fallout from the Ukraine crisis.… Continue reading From Tesla to Peloton, companies slow hiring as economy sputters
Tag: Lyft
Musk’s warning could be auto industry’s ‘canary in the coal mine’ moment
Tesla CEO Elon Musk‘s “super bad feeling” about the economy could be the auto industry‘s “canary in the coal mine” moment, signaling a recession for an industry whose bosses have shown no signs of concern. Musk said the electric carmaker needed to cut about 10% of its workforce in an email to executives seen by… Continue reading Musk’s warning could be auto industry’s ‘canary in the coal mine’ moment
Insights on the Car E-hailing Global Market to 2031 – Players Include Uber Technologies, Gett, Lyft and Grab
DUBLIN, June 2, 2022 /PRNewswire/ — The “Car E-hailing Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031” report has been added to ResearchAndMarkets.com’s offering. This recent report on the car e-hailing market, with the help of a comprehensive outlook, provides readers with an assessment of the global market landscape. This study on… Continue reading Insights on the Car E-hailing Global Market to 2031 – Players Include Uber Technologies, Gett, Lyft and Grab
Texas’s bizarre social media law suspended by Supreme Court
Texas’s HB20 was put on hold Tuesday by the Supreme Court, five-to-four. As is typical for emergency for emergency requests, the majority did not define its reasoning; Justice Alito wrote a six page dissent joined by fellow conservatives Gorsuch and Thomas, while Kagan, a moderate, wrote she would “would deny the application to vacate stay”… Continue reading Texas’s bizarre social media law suspended by Supreme Court
The question of the private car in autonomous driving
The question keeps coming up as to whether there are still private cars with autonomous driving or not? The question of private cars initially has two components. On the one hand, it is a question of economics and environmental compatibility, because the private car is a driver of CO2 emissions and a factor in the… Continue reading The question of the private car in autonomous driving
PayPal has been laying off workers to reduce costs
PayPal has laid off workers in risk management and operations this week, according to Bloomberg. It’s the latest in a series of layoffs within the company — and it also won’t be the last. The publication says the payment processor also recently reduced its employee numbers in Chicago, Omaha, Nebraska and Chandler, Arizona. Further, it… Continue reading PayPal has been laying off workers to reduce costs
NVIDIA reportedly slows down hiring as it braces for a drop in gaming sales
A slowing economy continues to affect the tech industry, as NVIDIA has become one of the first chipmakers to announce a pullback on new hiring, according to memos seen by The New Indian Express and confirmed by Protocol. That lines up its comments during its latest earnings release, when it said that it expects sales of… Continue reading NVIDIA reportedly slows down hiring as it braces for a drop in gaming sales
Lyft joins Uber in cutting back on new hiring
After Uber announced that it was cutting back on hiring and other expenses due to the economic slowdown, rival Lyft is doing the same, according to The Wall Street Journal. “Given the slower than expected recovery and need to accelerate leverage in the business, we’ve made the difficult but important decision to significantly slow hiring… Continue reading Lyft joins Uber in cutting back on new hiring
Moves Raises $5M in Seed Funding
Moves, a Toronto, Canada-based provider of a banking app exclusively for gig workers, raised $5.M in Seed funding. The round was led by Omers Ventures, with participation from Panache Ventures and N49P Ventures. The company intends to use the funds to expand operations and its development efforts. Led by CEO Matthew Spoke, Moves is the… Continue reading Moves Raises $5M in Seed Funding
AvantStay Appoints David Katcher as New Chief Operating Officer
In his new role at AvantStay, Katcher is responsible for the end-to-end owner and guest experience. Katcher and his team ensure all aspects of AvantStay’s operations—from onboarding a new home, to the overall guest experience from booking to check-out—work seamlessly and deliver on the brand’s overall standards and promise. As part of the executive team,… Continue reading AvantStay Appoints David Katcher as New Chief Operating Officer