Uber Drivers Will Go On Strike Because of the Company’s IPO

Since Uber will debut an IPO on Friday, the company’s drivers are planning to go on strike. The New York Taxi Workers Alliance (NYTWA) calls for taxi drivers from the United States to show solidarity with drivers in London and not to accept orders from Uber and Lyft on May 8 from 7 to 9 in the morning.

According to representatives of NYTWA, when applying for an IPO, Uber told about plans to reduce the payment for drivers.

“We don’t want our wages to stay just minimum. We want Uber to answer to us, not to investors. The gig economy is all about exploiting workers by taking away our rights. It has to stop. Uber is the worst actor in the gig economy.”

In San Francisco, drivers organize a protest at Uber office, followed by a 12-hour shutdown of applications.

“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 spokesperson said TechCrunch, – “We’ll continue working to improve the experience for and with drivers.”

In turn, the drivers of Lyft went on strike in San Francisco and San Diego. They strive for higher earnings and a transparent tariff setting policy.

“Lyft drivers’ hourly earnings have increased over the last two years, and they have earned more than $10 billion on the Lyft platform,” a Lyft spokesperson told.

As part of the IPO, both Uber and Lyft offered bonuses to drivers. For example, in Lyft, this bonus was up to $10,000. Similarly, Uber offered some drivers a bonus of up to $40,000.

Uber estimates its IPO in the range of $44 to $50 per share and expects to raise up to $84 billion. Lyft set the range from $62 to $68 for its IPO, seeking to raise up to $2.1 billion. Since its debut at Nasdaq, Lyft shares have lost some of their value and are now trading at around $60 per share.

We remind you:

Uber Attracts Investments of $1 Billion to Create Self-Driving Cars

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