Lyft to slow hiring, assess budget cuts

FILE PHOTO: The Lyft Driver Hub is seen in Los Angeles, California, U.S., March 20, 2019. REUTERS/Lucy Nicholson

(Reuters) - Ride-hailing firm Lyft Inc said on Tuesday it would slowdown hiring and assess budget cuts in some departments, joining rival Uber Technologies Inc in attempting to rein in costs.

Lyft said no employee layoffs are planned and added it would grant special stock options to eligible employees.