Uber’s Q2 losses were bigger than total 2018 losses for all but three S&P 500 companies… Imposes engineer hiring freeze

KEY POINTS

General Electric, Kraft Heinz and Newell Brands are the only companies in the S&P 500 that lost more money last year than Uber’s $5.2 billion second-quarter deficit.
Most of Uber’s loss was tied to stock-based compensation.
Uber shares fell after disappointing results.
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This hiring freeze comes after 400 layoffs in its marketing department last week.