Bank of America Corp
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Financials : Banks | Large Cap Value
Company profile

Bank of America Corporation is a bank holding company (BHC) and a financial holding company. The Company's segments include Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets. Consumer Banking segment offers a range of credit, banking and investment products and services to consumers and small businesses. The GWIM segment provides client experience through a network of financial advisors focused on clients with over $250,000 in total investable assets, including solutions to meet client's needs through a set of investment management, brokerage, banking, and retirement products. Global Banking segment provides a range of lending-related products and services, integrated working capital management and treasury solutions, and underwriting and advisory services. Global Markets segment offers sales and trading services and research services to institutional clients across fixed-income, credit, currency, commodity, and equity businesses.

Postmarket

Last Trade
Delayed
$35.32
0.02 (0.06%)
Bid
--
Ask
--
B/A Size
--

Market Hours

Closing Price
$35.30
Day's Change
-0.15 (-0.42%)
Bid
--
Ask
--
B/A Size
--
Day's High
35.56
Day's Low
35.18
Volume
(Light)
Volume:
27,353,193

10-day average volume:
42,243,956
27,353,193

Lyft to freeze hiring through end of the year

7:19 am ET September 28, 2022 (MarketWatch)
Print

By Levi Sumagaysay

Ride-hailing giant Lyft Inc. is freezing hiring through the end of 2022, the company confirmed Tuesday.

Lyft (LYFT) executives said during the company's most recent earnings call that they have been trimming costs by cutting budgets and "dramatically slowing hiring."

Tuesday, a company spokeswoman said that "like many other companies navigating an uncertain economy, we are pausing hiring for all U.S.-based roles through the end of the year."

Other recent cost-cutting measures by Lyft include offering its office space for subleasing, as well as ending direct car rentals and laying off 60 workers who staffed that business.

Shares of San Francisco-based Lyft have fallen almost 67% year to date. Monday, the company's stock continued its losing streak after a UBS downgrade based on data that riders prefer Uber Technologies Inc. (UBER) to Lyft, but the stock rebounded to close almost 5% higher Tuesday.

Earlier this year, Uber's chief executive reportedly said the company would also cut costs and slow hiring.

-Levi Sumagaysay

	

(END) Dow Jones Newswires

September 28, 2022 07:19 ET (11:19 GMT)

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