Massachusetts secured a big raise for Uber and Lyft drivers in the state, but some are worried the deal could have negative side effects [Business Insider]
Uber Technologies, Inc. (UBER)
Last uber technologies, inc. earnings: 2/6 04:05 pm
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Source: Business Insider
The settlement includes paid sick leave, accident insurance, and health plans for drivers. Drivers remain independent contractors, and some are concerned about competition and wage impacts. Many Uber and Lyft drivers in Massachusetts are about to be paid more for their work — and it may be a sign of what's to come in other states. Still, some drivers are not fully satisfied. After a four-year legal dispute over the status of ride-hailing drivers in Massachusetts, Uber and Lyft agreed via a settlement to pay a minimum rate of $32.50 an hour for time spent completing a ride. The settlement will pay $175 million to the state and drivers, many of whom claimed both companies violated Massachusetts wage and hour laws. Massachusetts also won paid sick leave, improved accident insurance, and a health insurance plan for drivers who work 15 or more hours a week. Both companies said they would stop supporting a ballot initiative to set drivers' classification as contractors in stone.
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UBER
News
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- With 82% ownership, Uber Technologies, Inc. (NYSE:UBER) boasts of strong institutional backing [Yahoo! Finance]Yahoo! Finance
- Rideshare Giant Uber Takes To The Water Across Europe [Forbes]Forbes
- Six NYC hotels are providing free helicopter airport transfers into the city — with one small catch [CNBC]CNBC
- Colorado man sentenced to 60 years for setting fire that killed Senegalese family [Los Angeles Times (CA)]Los Angeles Times
UBER
Earnings
- 5/8/24 - Miss
UBER
Sec Filings
- 6/20/24 - Form 4
- 6/18/24 - Form 4
- 6/18/24 - Form 4
- UBER's page on the SEC website