Days before Uber’s expected IPO, drivers for ride-hailing companies protested for better pay near Wall Street
Drivers and their supporters protest Wednesday against Uber and other app-based ride-hailing companies near the Wall Street Charging Bull in lower Manhattan. Photo: Drew Angerer/Getty Images By Kristin Broughton Updated May 8, 2019 5:44 p.m. ET Drivers for ride-sharing companies protested Wednesday, saying companies such as Uber Technologies Inc. and Lyft Inc. have failed to pay drivers a living wage.
To investors, the protests were an embodiment of risk factors described in Uber’s initial public offering filing. Chief among them: its reputation, particularly as it relates to drivers. The company risks losing drivers or customers if its image takes additional hits, it said in its filing. “Drivers are at the heart of our service—we can’t succeed without them—and thousands of people come into work at Uber every day focused on how to make their experience better, on and off the road,” an Uber spokesman said in a statement. He added that driver benefits include insurance protections and educational benefits.
Newsletter Sign-up Uber’s main U.S. competitor, Lyft, which began trading on the Nasdaq Stock Market last month, told investors in its prospectus that perception surrounding its treatment of employees is a risk to the company. And so are negative perceptions related to the ride-sharing industry as a whole, the company said in the filing.
The protests across New York, organized by groups such as the New York Taxi Workers Alliance and the Independent Drivers Guild—which scheduled a procession of Uber and Lyft vehicles over the Brooklyn Bridge—were promoted on social media with hashtags such as #StrikeUberLyft, #LyftStrike and #UberShutDown.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Warren Buffett: I'm not buying the Uber IPO, but I've never bought any IPO“In 54 years, I don’t think Berkshire has ever bought a new issue,” Warren Buffett said.
Lire la suite »
Warren Buffett: I'm not buying the Uber IPO, but I've never bought any IPO everBerkshire Hathaway Chairman and CEO Warren Buffett explains why he passed on Uber's initial public offering.
Lire la suite »
Uber drivers to strike over pay and benefits ahead of the company’s $90 billion IPODrivers argue the road to both companies’ IPOs has been paved by workers who Uber and Lyft have insisted for years are merely contractors.
Lire la suite »
Uber, Lyft drivers plan to strike ahead of Uber’s IPODrivers are calling for better job security, a livable income and a cap on the ride-hailing companies’ commission.
Lire la suite »
Uber drivers eye IPO riches, call for strike in U.S. and UKUber drivers eye IPO riches, call for strike in U.S. and UK by leejane71 alexandriasage ReutersJF
Lire la suite »
As Uber gears up for IPO, many Indian drivers talk of shattered dreamsIn 2016, Rajesh Raut started driving an Uber taxi in Mumbai, hoping he could ear...
Lire la suite »
Uber drivers set to protest around the world ahead of the company's $90 billion IPODrivers are also expected to stage protests against Uber and Lyft in at least eight cities around the U.S., including New York, Chicago and San Francisco.
Lire la suite »
Uber drivers strike ahead of impending IPORide-hailing drivers across the world went on strike on Wednesday, ahead of Uber Technologies Inc.’s initial public offering, which is expected to price on...
Lire la suite »
Uber, Lyft drivers on global strike just before Uber's IPOUber and Lyft drivers on global strike to improve wages and working conditions just two days ahead of Uber's monster IPO.
Lire la suite »
Uber drivers plan strike ahead of much-anticipated IPOUber drivers are hoping to engineer another DeleteUber — but sparking that kind of consumer outrage won't be easy.
Lire la suite »
Uber, Lyft drivers on global strike just before Uber's IPOUber and Lyft drivers around the world are striking on Wednesday to improve wages and working conditions just two days ahead of Uber's monster IPO that could generate $80 million to $90 million. The hours drivers plan to strike vary by location but will span from New York to Atlanta to Tokyo. In
Lire la suite »